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Cosco Shipping establishes logistics investment fund

China Cosco Shipping Corporation Limited (Cosco Shipping) has set up a logistics investment fund, backed by the provincial government, to raise around RMB6bn ($874.2m) for investments in areas including cold chain logistics, logistics infrastructure, industrial parks, and e-commerce.

Lee Hong Liang, Asia Correspondent

February 17, 2017

1 Min Read
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The fund will be parked under a new set up named Cosco Shipping Logistics, wholly-owned by Cosco Shipping. Cosco Shipping Logistics will in turn collaborate with Cosco Shipping Development on utilising the fund.

Cosco Shipping Development is the integrated financial services provider for the shipping conglomerate Cosco Shipping.

The Henan provincial government has supported the initiative, saying the logistics development would help with China’s One Belt One Road economic development framework.

The involvement in the logistics fund is expected to benefit the Cosco group in developing its strategic investments and generating investment returns, according to a Cosco Shipping Development announcement.

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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