Hong Kong-listed Cosco Pacific, the port investment vehicle of China Cosco Shipping Group, has announced that the board has approved the change of the company’s name to Cosco Shipping Ports Limited.
During the merger of Cosco Group and China Shipping, a number of subsidiaries of the two groups have changed names.
As announced in December last year in the merger of Cosco and China Shipping Cosco Pacific has severed its container leasing businesses to focus solely on global terminal development. It has acquired China Shipping Ports Development and offloaded its Florens container leasing business to CSCL. CSCL in turn is being rebranded as a leasing and financial platform to be known as Cosco Shipping Development.