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Massive Chinese container merger gets go-ahead

The Chinese State Council has approved the planned merger between the country's two state-owned carriers, Cosco and CSCL. The move will create the world's fourth-largest container carrier. The move is confirmed by Chinese state-owned TV news.

Photo: PR-foto

Updated at 2:33 pm CET: Chinese state-owned TV station CCTV has just announced that the Chinese government has approved the merger.

The expected merger between China's two largest container carriers, Cosco and CSCL, has now been cleared by the country's authorities, an executive from one of the carriers tells Chinese media Caixin Online.

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