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Chinese shippers expected to merge

  • China Cosco (OTCPK:CICOF. OTCPK:CICOY) is in advanced talks to merge its container shipping unit with China Shipping Container Lines (OTC:CITAY), sources tell The Wall Street Journal. The combination of the two shippers could range as high as $15B to $20B in value.
  • China Shipping Container Lines is a unit of China Shipping Group.
  • Consolidation within the container shipping industry has been widely anticipated as losses have piled up. Some analysts think a tie-up of the two Chinese shippers could spur more deals within the sector.

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