Get to know the facts about the merger of COSCO and China Shipping Line Merger. These two big shipping companies will get merged by end of march this year.One of the top news in the maritime sector is this, the merger of two shipping giants COSCO and China Shipping. So, what is happening out there? Let’s see what interesting facts we have for you.
COSCO And China Shipping Line Merger
Here are some of the interesting facts:
1) The new shipping company will be called as COSCOCS. The first named after cosco and other one for china shipping line-CS.
2) Will become the largest shipping company in the world after including all types of business like bulk, tanker etc.
3) After merger, the combined vessel numbers that they have is more than 700.
4) Right now largest shipping company is Maersk. But after merger, they will come to
5) COSCO is much bigger company than CSL, with many subsidiaries.
6) Company will have a worth of more than 22.95 Billion Dollars.
7) Combined strength of employees will exceed 180000.
Image Courtesy: COSCO Line
The merger of both these shipping company is till debatable topic as how the merger will go on. And after merger, how things will work out for both, in this competitive market. On the other hand, the shipping market has been on downturn and we don’t have good signals for this year. As per the industry experts, this merger can both make the market good or bad, only the times will tell. Deciding the prices will be the thing, that customers and other industry experts looking for. Still the process of merging the container lines is going on. That is the difficult part of this merger.
But surely this big merger will going to escalate the competition between other player. New alliances will shortly be seen. This could prove worse for the small players to sustain. So, they either have to buckle up or they have to get merged with some big shots.
Hope you enjoyed reading this.