The China Ocean Shipping Co. group said that it has
canceled a previously-announced plan to restructure shareholding participations concerning
its various subsidiaries in Hong Kong and Singapore.
Under the plan, a shareholding in COSCO Investment (Singapore), owned
by the COSCO parent group in Beijing, would have been transferred to COSCO Pacific, a Hong
Kong listed company in which the COSCO parent company has a 53-percent interest.
COSCO said that it has considered the views of investors in COSCO
Pacific and will not proceed with the plan.
In a related move, a 49-percent stake in COSCO Holdings (Singapore)
will be transferred for free from the COSCO parent group in Beijing to COSCO (Hong Kong).
COSCO (Hong Kong) is wholly-owned by the COSCO parent in Beijing.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now