Coscocs establishes terminal acquisition fund

Coscocs establishes terminal acquisition fund

China Cosco Shipping Corporation (Coscocs) has signed a strategic cooperation agreement with Greeland Holding Group, a major real estate company in China to jointly develop port terminal assets globally.

Under the agreement, Coscocs plans to establish a special fund dedicated to the acquisition of port terminal assets globally, and Greenland will become the cornerstone investor of the fund.

Additionally, the two groups will collaborate on acquiring land properties at major ports in China to develop logistics projects as well as supply chain business.

In January, Cosco Shipping Ports, the port operation unit of Coscocs, made a strategic investment of RMB5.8bn ($848m) in Qingdao Port, which will increase its shareholding in Qingdao Port to about 18.41%.

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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