Cosco-CSCL 'deal nearly done' - to be called China Cosco Shipping Group
Time：2015-12-11
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The new company will be named China Cosco Shipping Group and be headquartered in Shanghai, they said.
Once merged, the new company will be the fourth largest carrier in the world.
"The merging process took longer than expected due complexity on marketing, terminals, container management, subsidiaries of both companies, personnel, terminal fees etc," said one source.
One possibility, he said, is that CSCL will hand over all its fleet, assets and personnel to Cosco in the form of shares transfer.
Under this arrangement, the China Shipping fleet will be leased to Cosco under Cosco`s management and CSCL will be transformed into a platform for financing for the maritime industry.