Cosco profits from Hanjin collapse

Chinese container carrier China Cosco Shipping Corp. is reaping such great benefits from the collapse of Hanjin and the subsequent influx of customers that the carrier now expects to present a much better result for the fourth quarter this year and for 2017, reports Reuters.

Photo: PR-foto/Hamburg Hafen Marketing Association

Major Chinese container carrier China Cosco Shipping Corp. is reaping the benefits of Hanjin's collapse and the shippers' subsequent need for new options.

"Shippers are now more keen to choose shipping companies with good credit that can provide stable services, and they may shun companies with poor credit. In this respect, our group is one of the beneficiaries," Sun Jiakang, Executive Vice President for China Cosco, which is China's largest carrier, tells Reuters.

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