People’s Daily: Chinese shipping giant officially established after restructuring
SHANGHAI, Feb. 18 — China COSCO Shipping Corporation Limited, a new company formed by the restructuring of China’s top two shipping firms, was officially established on Thursday.
By amalgamating COSCO and China Shipping, the new conglomerate will have the world’s largest total shipping capacity and the fourth biggest container fleet, with 610 billion yuan (93.6 billion U.S. dollars) of assets.
