More fire sales ahead for Cosco

According to Financial Times, there are clear expectations in the market that China's major shipping group Cosco will continue its fire sales in an effort to avoid being humiliated at the stock exchange.

More asset fire sales on the way from China Cosco Holdings. In the last two months, China's biggest shipping group has been selling off assets in its share of container factory China International Marine Containers, for USD 1.2 billion, and Cosco has also announced plans to sell Cosco Logistics, in both cases to the parent company, in an effort to avoid the major embarrassment of having the company's shares delisted on the Shanghai and Hong Kong stock exchanges after several consecutive years with major deficits.

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