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Cosco and CSCL in large-scale collaboration

Container carriers Cosco and China Shipping (CSCL) are joining forces to establish what could become the world's fourth-largest container carrier.

Last week the parties in Cosco Group and China Shipping Group (CSCL) signed a collaborative agreement aimed at ensuring a larger degree of security for the two carriers - currently ranked as the world's 6th and 10th largest container carrier, respectively - in the still highly volatile container market, according to Alphaliner.

The two carriers currently have 4.3 and 3.3 percent of the global capacity, respectively, and according to the newsletter's latest survey the new venture has the potential to become the world's fourth largest carrier, with a total 7.7 percent of the global container capacity, only surpassed by the three partners in the P3 alliance, Maersk Line, MSC, and CMA CGM. Evergreen would then only be the world's fifth largest carrier going forward.

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