China Shipping, COSCO link up
Source: Agencies |
October 13, 2012, Saturday
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Print Edition
Print Edition
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.
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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