Fourth Largest Container Shipping Company is Now Official.
China Ocean Shipping (Group) Co (COSCO) and China Shipping Group will now be one as they officially communicated last Friday. Some analysis suspect that the merger is worth between $10-20 billion.
Although they are now merged, the companies are still behind the first three companies in the industry: APM Maersk, Mediterranean Shipping Co and CMA CGM, which oversee almost 40% of the market. The Chinese government earlier this year also merged two of its biggest train makers—China CNR Corp. and CSR Corp. into CRRC Corp.