ShippingWatch

Chinese container collaboration looks like a dud

A new strategic agreement between Coscon and China Shipping Container Lines looks like anything but a serious response to the new and bigger alliances, according to Alphaliner.

In spite of a new strategic collaborative agreement signed in February between China's two biggest container carriers, Cosco Container Lines (Coscon) and China Shipping Container Lines (CSCL), the collaboration does not even come close to serving as a sign of increased consolidation among the two carriers, both of which are operating at deficits.

According to analysts Alphaliner, the two companies will continue to compete directly with each other, and Coscon as well as CSCL look set to continue to sail at a deficit for the next two years even though both have divested assets over the last two years to their respective parent companies to avoid negative bottom lines.

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