China Cosco Holdings, one of the flagship-listed entities of China Cosco Shipping Corporation (CoscoCS), has announced that the board has proposed to change the company’s name to Cosco Shipping Holdings, as part of the restructuring process.
The company said it will change its main business scope to container shipping and port terminal services upon completion of the restructuring.
The merger between China Shipping Group and Cosco Group is still ongoing. The merger has brought a series of name changes of subsidiaries of the two groups in the past few months. China Shipping Container Lines has been renamed Cosco Shipping Development and is now a financial leasing platform. Cosco Pacific has changed its name to Cosco Shipping Ports, while China Shipping Development also proposed a rebrand to Cosco Shipping Energy Transportation. The newly merged shipping giant also created its container shipping unit, China Lines, and bulk shipping unit Cosco Shipping Bulk, headquartered in Shanghai and Guangzhou respectively.
As the dust settles on the merger, it appears that the Cosco brand, the older of the two state-run giants, has trumped China Shipping for primacy.
Source: Splash 24/7
Source: Splash 24/7