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Cosco establishes shipping fund with Chinese partner

Shipping group Cosco has established a new fund along with a partner, which is controlled by the Chinese government. The goal is to invest broadly in shipping, reports industry media.

Photo: AP/Polfoto/Arkiv
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The Chinese conglomerate China Cosco Shipping Group has established a new fund which will invest broadly in shipping.

The fund has been founded along with Chinese partner China Cinda Asset Management which specializes in investing in ailing assets, and which is controlled by the Chinese ministry of finance.

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