China Shipping Group, the world's sixth largest shipping conglomerate by capacity, is seeking diversification into the cargo terminal business through domestic and international acquisitions.
Following a deal sealed with Yingkou Port Group, the shipping conglomerate is set to sign another co-operation agreement later this month with a container terminal in Egypt's Mediterranean port of Damietta.
It plans to take a 20 percent stake in the terminal.
Li Shaode, the president of China Shipping Group, said the company considers Yingkou Port as one of the most profitable ports in China.
Li said the group was considering assigning its 40 percent stake in Yingkou Port Group to China Shipping Container Lines later.
The group is eager to increase its presence in the port business globally and will inject assets acquired into CSCL, the group's cargo shipping spin-off.
China Shipping Group intends to go ahead with CSCL's A-share listing, Li said, adding that proceeds will be used to build more ships and acquire ports.
Li said the group would also co-operate with Sinopec and PetroChina in a liquefied natural gas supply project in northern China.
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