Independent journal on economy and transport policy
06:18 GMT+1
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the Chinese government has authorized the fusion of shipowning groups COSCO and Lowers Shipping
Attended in order tomorrow a communication on the securities markets
December 10, 2015
The Council of State of the Chinese Popular Republic has given the go-ahead free to the project of fusion between Lowers Ocean Shipping (Group) Co. (COSCO) and Lowers Shipping Group, the two main Chinese shipowning societies. It has announced today the Caixin news agency specifying that the information reaches from a top manager of one of the two companies and that the branches of the two groups quoted in communicated specific Stock exchange will emit tomorrow to such purpose.
From the fusion the new society will be born Lowers COSCO Shipping Group, with center to Shanghai, than in the single field of the containerized marine transport it will occupy the fourth position in the ranking of the main world-wide companies for ability to the fleet. Currently, in fact, groups COSCO and Lower Shipping, through branches COSCO Container Lines (COSCON) and Lower Shipping Container Lines (CSCL), sit respective on sixth and seventh step of classifies with fleets with a containerized cargo ability pairs to 950 thousand and 850 thousand teu, while together they will be placed quickly behind Danish group A.P. Møller-Mærsk that has a fleet of the million ability three teu, the Helvetic group Mediterranean Shipping Company (MSC) that it puts in field ships for a hold ability total of 2,7 million teu and the French group CMA CGM that a fleet in a position to transporting has 1,8 million teu.
The dealings of the shares of the companies of the two groups are suspended 10th August waiting for information detailed on the fusion project. The leader contacted from the Caixin Chinese has specified that to the two companies a period of three months of time was granted in order to define the project, but - it has asserted - various complications are emerged that have determined a delay.
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The Council of State of the Chinese Popular Republic has given the go-ahead free to the project of fusion between Lowers Ocean Shipping (Group) Co. (COSCO) and Lowers Shipping Group, the two main Chinese shipowning societies. It has announced today the Caixin news agency specifying that the information reaches from a top manager of one of the two companies and that the branches of the two groups quoted in communicated specific Stock exchange will emit tomorrow to such purpose.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
