China Shipping plans to issue US$ bonds

[SINGAPORE] China Shipping Group Co, the nation's No 2 shipping company by assets, is considering selling bonds denominated in US dollars for the first time as borrowing costs in Asia drop to a more than one-month low.

The Shanghai-based company, which provides container, tanker and freight transportation services, is meeting fixed income investors from today, according to a source.

Hong Kong's China Overseas Grand Oceans Group, India's Bank of Baroda, Wharf Finance and Korea National Oil Corp are marketing securities in the US currency, other people said.