The COSCO Shipping group said on 12 February that it has bought out German tank container specialist VTG Tanktainer’s 50% stake in their former joint venture, Shanghai COSCO VTG Tanktainer, leaving the Chinese state-owned conglomerate the sole owner.
As a result, Shanghai COSCO VTG Tanktainer has been renamed Shanghai COSCO Shipping Tanktainer.
COSCO Shipping Lines, the fourth largest liner operator, sees synergies between the shipping of dry containers and tank containers, and the move makes it the first container shipping line with tank container assets.
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