Cosco and China Shipping restructuring plan approved by shareholders

Cosco and China Shipping restructuring plan approved by shareholders

The listed entities of Cosco Group and China Shipping Group have all announced that the shareholders of the companies have passed the restructuring plan between the two groups in EGM meetings.

The restructuring plan includes Cosco taking over stakes in 33 affiliate companies of China Shipping Group and chartering containerships and containers from CSCL, and taking all dry bulk shipping assets private.

The combined entity, branded China Cosco Shipping Group, will become the world’s largest shipping line by quite some distance. With 783 vessels worth $22.95bn, the Chinese giant would be more than $10bn and 500 ships in front of second placed AP Moller Maersk, according to data compiled in August from It would rank number one in the dry bulk and tanker trades in terms of fleet size and valuation while Alphaliner statistics show the merged pair would become the world’s fourth largest containerline.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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