Independent journal on economy and transport policy
07:49 GMT+2
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Green light of the COSCO shareholders and Lowers Shipping Lines Container to the fusion plan
COSCO is in race for the privatization of the port of Limassol
February 2, 2016
Yesterday the assemblies of the shareholders of the Chinese shipowning societies Lower COSCO and Lower Shipping Container Lines (CSCL), reunited in extraordinary sitting, have given the go-ahead free to the fusion plan ( of 11 Decembers 2015). The project is approved of with almost unanimous ballot from the shareholders of both groups.
While shipowning group COSCO, after to have in recent days obtained the consent of the Greek government to the acquisition of the control of the Harbour Authority of the Pireo ( on 21 January 2016), it is trying to widen own net of harbour terminals in the Mediterranean participating to the contest for the privatization of the port of Limassol. The minister of the Transports, communications and public works of Cyprus has announced that they are the 14 reached proposals in order to obtain the management of the docks of the port, of which you are for the management of the container terminal, five for the management of the multipurpose terminal and three for the management of the marine services. Group COSCO has introduced proposed is in order to obtain the management of the terminal for containers is for the management of the multipurpose terminal.
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