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CSCL proposes change of name to Cosco Shipping Development

CSCL proposes change of name to Cosco Shipping Development
China Shipping Container Lines (CSCL) has proposed to change its name to Cosco Shipping Development Co, in line with the company’s future business strategy and as a group member of China Cosco Shipping Corporation (Coscocs).

“The new name of the company has been pre-approved by the State Administration for Industry and Commerce,” Hong Kong-listed CSCL announced on Sunday.

“The company is expected to transform from a container liner operator into an integrated financial services platform with leasing businesses such as a vessel leasing, container leasing and non-shipping leasing as core and shipping financing as feature,” it added.

CSCL had been the container arm of shipping conglomerate China Shipping Group, which has since merged with another conglomerate China Cosco Group to form Coscocs.