Major Chinese merger could be imminent

China's two largest container carriers could be headed for a merger before the end of 2015. Other mergers in dry bulk and tanker could follow suit, reports the Wall Street Journal.

Photo: PR-foto

A merger between China's two largest container carriers, Cosco and China Shipping Container Lines (CSCL), which would create the world's fourth-largest carrier, looks imminent and could receive final approval in January or maybe even before the end of the year, sources tell the Wall Street Journal.

The container merger could be followed by similar mergers between other carriers and units in dry bulk and tanker, the sources say, pointing to China Merchants Energy Shipping Co. and Sinotrans & CSC Holdings as part of the Chinese government's attempts at restructuring large swaths of loss-inducing shipping industry as well as other companies.

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