China has approved the merger between China National Foreign Trade Transportation (Group) Corp or Sinotrans, and China Changjiang National Shipping (Group) Corp, a senior executive at Changjiang National Shipping told Dow Jones.
Chanjiang National Shipping vice-president Shen Guanghan told Dow Jones that the government is now considering the management structure of the merged entity. There's no timetable yet for the launch of what could be China's second-largest shipping logistics firm by assets after China Ocean Shipping (Group) Co (Cosco).
Sinotrans Group is the parent of Sinotrans. a freight-forwarding and express-delivery service provider, and Sinotrans Shipping, China¡¯s third-largest dry-bulk shipper by capacity.
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Source: portnews.ru
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