Greater ChinaPorts and Logistics
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.