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October 13, 2012

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China Shipping, COSCO link up

CHINA'S top two shipping giants, COSCO and China Shipping, will join forces in a move that is a first for the domestic coastal container shipping industry and which is aimed at weathering a severe market downturn.

China Shipping Container Lines Co yesterday said it had agreed with COSCO Container Lines Co, a unit of China COSCO Holdings Co, to jointly operate trade routes from north and northeast China to Fujian Province and Shantou in south China's Guangdong Province from mid-October. The two shippers, with a combined market share of 80 percent in the domestic coastal container trade, would each deploy ships to jointly operate the routes.




 

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