CSC proposes spinning off bulk operations

China Shipping Development Co. said its parent company is considering a restructuring that could involve spinning off its dry bulk cargo operations into a separately listed company. In a legal notice responding to recent press reports, the company said its parent, China Shipping (Group) Co. (CSC), is considering having its own group restructuring which may involve the injection by both CSC and the company of certain dry bulk cargo carriers into a new company.