Cosco Shipping Ports decides not to deepen ties with CCCC Dredging

Cosco Shipping Ports decides not to deepen ties with CCCC Dredging

Cosco Shipping Ports has ditched plans buying into compatriot CCCC Dredging, citing “feedback from the market”.

Last month, the ports arm of the world’s largest maritime conglomerate had said in a release it was looking into buying a 10% stake in the dredging giant, the latest move in China’s move to get state-backed port-related entities to act globally in a more united manner.

Cosco’s ports division is now one of the largest terminal operators in the world, closing in on Hutchison Ports, which lies in second place behind PSA International.

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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