ShippingWatch

Chinese container merger slams share prices down

There has been no smooth sailing for the Chinese carrier stocks during the past two trading days after months of suspension from stock trade in China have ended.

On Friday, the investors on the stock exchange in continental China were once again granted the opportunity to trade shares in China Cosco Holdings, China Shipping Container Lines and China Shipping Development, after the Chinese authorities presented a plan on December 11th for the consolidation and streamlining of the three carriers as well as Cosco Pacific, which is only listed in Hong Kong. The shares had otherwise been suspended since the beginning of August.

The plan from the authorities is part of a merger of Cosco Group and China Shipping Group, and is meant to streamline the four companies under the two state-owned parent companies.

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

IKEA stops chartering container vessels

IKEA will no longer lease space on board container ships to have its products brought to shelves across the world, the global furniture group confirms. But the company is trying to avoid congested ports.

Further reading

Related articles

Latest news

See all jobs