It is reported that Shenzhen Chiwan Wharf Holdings is to acquire a 40% stake in Shandong based iron ore and crude oil terminal operator Zhonghai Port Development in order to strengthen its port network.

The Shenzhen listed port operator has struck a CNY 749.3 million deal with affiliates of state owned port, logistics and property conglomerate China Overseas Group.

(Sourced from www.lloydslist.com)