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Chinese container giant in massive billion dollar venture

New major Chinese container carrier China Cosco Shipping Corporation has reached a financing deal for no less than 50 vessels. The country's China Exim Bank will put up the many billion of dollars needed for the purchase.

Photo: PR-foto

USD 18 billion. This is how much is made available to Chinese container unit China Cosco Shipping Corporation after the carrier, according to several Asian media, has reached a new financing deal with China Exim Bank.

The huge sum will be used for the purchase of 50 new container vessels as well as fleet optimization, investments and costs related to mergers and acquisitions.

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