COSCO, China Shipping unite in domestic container trade

China’s top two shipping giants, China COSCO and China Shipping, will join forces in a move that is a first for the domestic coastal container shipping industry and which is aimed at weathering a severe market downturn.

China Shipping Container Lines Co Ltd (CSCL) said it had agreed with COSCO Container Lines Co Ltd, a unit of China COSCO Holdings Co Ltd, to jointly operate trade routes from north and northeast China to Fujian and Shantou in the southern province of Guangdong from mid-October.

via Business feed http://www.scmp.com/business/companies/article/1059515/cosco-china-shipping-unite-domestic-container-trade