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Drewry: Radical changes underway in Chinese shipping

Coscon and China Shipping Container Line, the world's 4th and 8th largest container carriers, respectively, are facing radical shifts in 2013, according to analysts Drewry.

A merger between China's two major carriers, Coscon and China Shipping Container Lines (CSCL), the world's 4th and 8th largest container carriers, respectively, seems unlikely, which means that the two carriers, following deficits in 2011 and 2012, are facing radical interventions, estimates British analysts Drewry.

China Cosco Holding, which container carrier Coscon is a part of, may risk a forced exit from the Shanghai Stock Exchange, where the shipping conglomerate in 2013, for the third year in a row, will finish with a deficit. Senior management is taking the threat seriously, as evidenced by the internal divestment of Cosco Logistics to Cosco Group for USD 1.1 billion in an attempt to achieve a positive result on the bottom line, thus avoiding suspension from the stock exchange.

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