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Chinese mega-merger to launch operations in a few weeks

The large-scale merger of, among activities, the dry bulk and container units of the two Chinese shipping conglomerates Cosco Group and China Shipping is expected to be operational by as early as February 18th.

Photo: PR-foto

The merger of China's two state-owned shipping groups Cosco and China Shipping Group will be operational, at least formally, by as early as February 18th 2016 after shareholders have approved the restructuring plans for the listed units in the groups, namely China Cosco Holdings, Cosco Pacific and China Shipping Container Lines.

This combination of the two former Chinese rivals represents the largest merger of its kind in recent memory in the global shipping industry. The transaction includes - in addition to container shipping - dry bulk, ports and terminals.

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