On March 12, 2013, China Shipping (Group) Company (“China Shipping”) completed two offerings of super & short-term commercial paper (“SCP”) for 2013. The first offering (“13 中海运 SCP001”, SCP code: 011330001) aimed to raise RMB 2.5bn of fund and the second (“13 中海运 SCP002”, SCP code: 011330002) RMB1bn.The SCP was traded in the interbank bond market starting from March 13.
 
China Development Bank and China Everbright Bank acted jointly as lead underwriters for the SCP. Dacheng Shanghai-based attorneys provided all-round legal service for the issuer. The project team was led by partner Wu Ming and attorney Teng Fengwu.
 
Founded on July 1, 1997 with headquarters in Shanghai, China Shipping (Group) Company is a mega conglomerate primarily engaged in shipping with operations in diverse countries and regions and of various sectors and ownership. Its shipping business involves the transport of containers, oil products, bulk cargo, passengers, automobiles and special items. Currently, it is actively developing liquefied natural gas (LNG) transportation. At the end of 2012, China Shipping boasted about 500 ships of various kinds, with each holding a deadweight tonnage of 30 million. It has the world’s largest fleets of container ships, tankers and bulk cargo ships, by which 460 million tons of freight and 11 million standard-size containers are transported annually.