Greater China

COSCO Shipping acquires Guangzhou Ocean Shipping

Guangzhou: COSCO Shipping Company (COSCOL) has announced today it plans to acquire full equity of Guangzhou Ocean Shipping for RMB1.095bn from COSCO Group.

Guangzhou Ocean Shipping mainly operates special vessels include lumber vessels, asphalt vessels, heavy lift vessels and car carriers.

COSCOL said the acquisition will help the company expand its fleet and special cargo shipping business to be more competitive on the international shipping market and the company sees special cargo shipping as an important strategy for development. [07/12/12]


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