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China’s Cosco to Splash $5bn to be Biggest Shipper – Nikkei

Cosco plans to add 23 container ships to its fleet between 2023 and 2025, to boost its carrying capacity by roughly 20%, Nikkei Asia said.


The German government is split on whether to allow China's Cosco to take a 35% stake in a terminal at Hamburg port.
A cargo ship model is seen in front of the China Ocean Shipping Company (Cosco) logo in this image taken March 3, 2022. The German government is split on whether to allow China's Cosco to take a 35% stake in a terminal at Hamburg port. (Dado Ruvic, Reuters).

 

China state-owned shipping firm Cosco will splash $4.9 billion and add further vessels to its fleet in a second attempt to become the world’s largest shipping company, Nikkei Asia reported.

Cosco will add 23 container ships between 2023 and 2025, according to the report, which would boost the group’s carrying capacity by roughly 20%, if it does not scrap any existing ships.

Read the full report: Nikkei Asia

 

Read more:

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Germany Split on China’s Cosco Taking Stake in Hamburg Port

China’s Festival Travel Down 37% Amid Covid Curbs

 

 

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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