Cosco still on the acquisition trail, with a $900m war chest

© Vladimir Serebryanskiy

Having tabled a $6.3bn bid for OOCL, it seems Cosco has not ended its shopping spree. Splash 24/7 reports that senior management at the Chinese shipping line is “studying” merger and acquisition opportunities amid a revival in the sector. And the carrier’s managing director, Liu Gang, claims Cosco has cash reserves in the region of $973m that it will use towards these purchases.