PSA International is reportedly looking to divest from its 20% stake in the ports business of Hong Kong's CK Hutchison and has attracted Chinese state-owned conglomerates for the possible sale.

Reuters reported that PSA — the world's largest container terminal operator — is currently in the "early stage" of exploring the divestment from the stake it acquired for US$4.4 billion in 2006, citing "sources familiar with the matter."

Bloomberg reported separately that Chinese state-backed conglomerates China Merchants Group and China Cosco Shipping Corp. were among those interested in PSA's minority stake in Hutchison ports.

It added that PSA, owned by Singaporean state investment firm Temasek Holdings, is "working with an adviser" as it fields preliminary interest in its stake.

"The sale process has just kicked off, and PSA is holding early talks with potential bidders, including China Merchants, Cosco and other firms in the sector," Bloomberg reported, also citing people familiar with the matter.

Nonetheless, the report noted that "discussions are preliminary, and the firms could decide against making offers."

Hutchison and Cosco did not immediately respond to requests for confirmation or comment.

A PSA spokesperson said "no comment" when asked.

Both Hutchison Ports and PSA are bigwigs in the shipping industry.

According to its website, CK Hutchison Holdings Limited — the parent company of Hutchison Ports — is among the world's leading port investor, developer and operator. The Hutchison Ports network of port operations comprises 51 ports spanning 25 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia.

Hutchison also ranks as the 6th largest container terminal operator, according to Drewry.

Meanwhile, Singapore-headquartered PSA has a global network encompassing 160 locations in 42 countries.

The PSA Group's portfolio comprises over 60 deepsea, rail and inland terminals, as well as affiliated businesses in supply chain management, logistics, marine and digital services, its website said.