Greater China

Cosco and China Shipping admit asset restructuring is on the cards

Cosco and China Shipping are keeping their shares suspended, the pair have said, until what they describe as a complex matter which may involve asset restructuring is complete. The groups’ listed units stopped trading on August 10, claiming they were “planning major issues”, a move widely seen as a merger of China’s top two lines.

Combined, Cosco and China Shipping would have a fleet more than $10bn more valuable than any other line in the world, according to data from

Sources at both groups have said a five-man team is now midway through a three-month review with how best to push ahead with the merger. At the same time Sinotrans&CSC and China Merchants Energy Shipping (CMES), two other big state run lines, have been linked with a merger.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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