News
Chinese Shipping Merger May Cause Headaches for Seattle
August 19, 2015
It's possible that one of China's largest ocean carriers, China Ocean Shipping Co (COSCO), and China Shipping Container Lines (CSCL) will soon merge. If so, that could be bad news for Seattle's cargo terminals and related industrial properties, since the new, large entity might take its substantially larger volume to Tacoma, which has more space for expansion, the Puget Sound Business Journal reports. If the two Chinese carriers—both owned by the Chinese government—merge, they would create the world’s fourth-largest ocean carrier, with 305 ships. [PSBJ]
