ShippingWatch

China Shipping secures USD 8 billion loan

China Shipping has secured a loan of up to USD 8 billion from China Development Bank over the next five years. The deal reflects the current trend Deutsche Bank is warning against.

A loan of up to USD 8 billion over the next five years will help facilitate the further expansion of the major state-owned conglomerate China Shipping Group, which owns container carrier China Shipping Container Lines (CSCL).

According to Seatrade Global, the enormous loan will be supplied by China Development Bank - and the move falls completely in line with the trend Deutsche Bank's Global Head of Shipping, Klaus Stoltenberg, warned against at a conference in Hamburg last week.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs