August 30, 2008

Sinotrans and CSC to merge

It is reported that China’s logistics service provider Sinotrans Group and China Yangtze Transportation Group Corp have officially confirmed that, they are in talks about a possible merger and related reorganization.

It is said that the merger, if it proceeds, would create the second largest shipping logistics firm by assets in China after Cosco Group.

Meanwhile, both groups have started streamlining their business structures to make consolidation easier. As per report CSC Group has grouped its ro-ro businesses under the Shenzhen based CSC RoRo Logistics Co in April and the company is mulling a Shenzhen listing by the end of this year. Sinotrans is trying to group its container shipping businesses under its flagship Sinotrans Container Lines.