News / Merger with Cosco would mean an exit from container shipping sector for China Shipping

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Cosco and China Shipping have released details of their forthcoming merger, which is likely to see the latter quit container shipping.

The plan is for China Shipping to manage the tanker operations, financing activities, shipowning and leasing arm of the merged company, while Cosco operates the vessel and service network and container terminal portfolio.

A fundamental part of the deal is this will be reflected in the relationship between the partners: Cosco will lease and operate China Shipping’s vessels and transfer its ...