The acting chairman of China Shipping Group (CSG) Xu Lirong has been appointed the new chairman of China COSCO Shipping Group. This entity has been created following the merging of COSCO and China Shipping Co. This move was approved in December 2015 by the State Council. Once the restructuring is complete, the new company will become the world’s fourth biggest container line, with 8 percent of global container freight capacity. According to China Daily, the merging will improve the competitive edge of major Chinese shipping lines.
January 7, 2016