SHANGHAI, Jan 4 (Reuters) - China Ocean Shipping Group Co (COSCO) and China Shipping Group Co will become a new entity after merging, led by the latter's current chairman, China's state-owned assets regulator said on Monday. The former rivals said in December they would merge through a series of asset swaps, creating units focused on distinct business areas such as container … [Read more...]
China Shipping Reform Fails to Enthuse Investors
By Bloomberg News (Bloomberg) -- China’s biggest shipping reform failed to enthuse investors as two major companies lost more than $850 million in total market value after the government proposed combining operations at its two key ocean liner groups. China Shipping Container Lines Co. and China Cosco Holdings Co. led the declines Monday with drops of as much as 36 … [Read more...]
COSCO and China Shipping Group In Merger Talks, Sources Say
By Brenda Goh SHANGHAI, Aug 11 (Reuters) - China Ocean Shipping (Group) Company (COSCO) and China Shipping Group are in talks over a possible merger, a person with direct knowledge of the matter said, as Beijing accelerates a drive to reform the bloated state-owned sector. Beijing has promised to restructure many state-owned enterprises (SOEs) and streamline … [Read more...]
Transpacific Jet Fuel Shipments Set to Increase – Traders
By Jessica Jaganathan SINGAPORE, May 13 (Reuters) - Asian jet fuel shipments to the United States West Coast region could pick up this month as a prolonged cut in throughput at a California refinery is drawing down inventories, traders said on Wednesday. Arbitrage economics to ship jet fuel from North Asia to the U.S. West Coast are now profitable, so there would be an … [Read more...]
Maersk and China Shipping Expand Collaboration Talks
Following the signing of an MOU last month, the A.P. Moller - Maersk Group is formally looking to expand discussions with China Shipping (Group) on the joint ownership of new container terminal projects in Europe. The discussions are being looked at from an extremely high level as well. Attending the signing ceremony today in Belgium was the President of China, Xi Jinping, … [Read more...]