CMA CGM eyes car-carrier market boom as liners are ready to invest
French container carrier CMA CGM, already spreading its wings by entering the air cargo and ...
Cosco Shipping Holdings and Shanghai International Port Group (SIPG) have invested ¥2bn ($280m) in SAIC Anji Logistics, the shipping subsidiary of compatriot state-owned car maker SAIC Motor, as Chinese shipping companies continue to expand in the vehicle carrier segment.
The investment, equally divided between Cosco and SIPG, gives each a 10% stake in SAIC Anji, whose share capital will increase to ¥750m ($103m), from ¥600m ($82m).
The company is building a fleet of 14 pure car ...
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