It looks set for the Chinese authorities to approve the Cosco-China Shipping merger this year, and a formal consolidation announcement is expected early-2016.
According to Lloyds List, “a source familiar with the matter” whispered in their ear that the Cosco Group and China Shipping Group are likely to receive the go-ahead from Beijing for their merger draft plan at the end of this year.
After this, the two biggest Chinese carriers and their subsidiaries will have to start a restructuring of their debts, before a formal announcement about the consolidation can be made. Something that was expected early next year, the source added.
