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Chinese conglomerates hit hard by financial troubles

The Chinese state-owned shipping conglomerates are in crisis. Turnovers of top management or consolidations could provide ways out, but none of the options are in the pipeline, writes Alphaliner. 

Bad news will be delivered next week when two of China’s largest players in the shipping market, COSCO and CSCL, will present a negative final result for the second year in a row. COSCO, which is a state-owned company, as is CSCL, has announced that its shareholders must expect “considerable losses” for 2012.

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