Cosco Shipping Holdings Co., China’s biggest shipping company, agreed to buy smaller rival Orient Overseas (International) Ltd. Co. for $6.3 billion, establishing an Asian container giant at a time when the industry struggles to emerge from a multiyear down-cycle.
Cosco Shipping Holdings Co., China’s biggest shipping company, agreed to buy smaller rival Orient Overseas (International) Ltd. Co. for $6.3 billion, establishing an Asian container giant at a time when the industry struggles to emerge from a multiyear down-cycle.
The move will see a half dozen supercarriers grouped into three alliances, move about three quarters of all seaborne trade after a wave of consolidation among the world’s top 20 carriers over the past year.
