Skip to main content

China considers merger of top shipping firms: report



















by Staff Writers
Shanghai (AFP) Aug 10, 2015
















China is mulling the merger of two of its largest shipping companies as part of a restructuring plan for state-owned enterprises (SOEs), according to a media report.




Beijing may merge China Ocean Shipping Group, known as Cosco, the largest shipping company in the country by fleet size, with China Shipping Group, Bloomberg News reported, citing unnamed people familiar with the matter.



If not a full merger, the government could instead combine some of their businesses, the report added.



Several arms of the two giants halted trading in their shares pending an announcement on Monday in both Shanghai and Shenzhen, as well as in Hong Kong, where some are also listed.



"China's shipping sector has been the poster boy for overinvestment and overcapacity," 
Bloomberg Intelligence Chief Asia Economist Tom Orlik told Bloomberg News in an email in the Friday report.



"Any restructuring which addresses that problem would be a step in the right direction."



China has already merged its top two train makers -- China CNR Corp and CSR Corp -- which are also state-owned, into the single conglomerate CRRC Corp.




The move, announced in December, aims to prevent competition between the two as China vies for lucrative rail contracts overseas against industry giants such as Germany's Siemens and Bombardier of Canada.




Merger speculation surrounding other major state-owned enterprises (SOEs) has intensified as the world's second-largest economy tries to reform the government-backed heavyweights that dominate its economy to boost stalling growth.




The official Xinhua news agency reported in April that China was considering merging scores of its biggest SOEs to create around 40 national champions from the existing 111.





Total revenue from national SOEs dropped 7.1 percent year-on-year to 13.21 trillion yuan ($2.16 trillion) in the first half of 2015, data from the finance ministry showed.




The merger speculation helped the Shanghai stock market close up 4.92 percent on Monday.






http://www.terradaily.com/reports/China_considers_merger_of_top_shipping_firms_report_999.html




Popular posts from this blog

THE MOST SOUGHT AFTER MANGOES IN THE WORLD ....

While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???





In alphabetical order by Country....










India




Alphonso





Alphonso (mango)
From Wikipedia, the free encyclopedia








Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 


It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST






Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.



However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.




Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.



Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 











Chip Somodevilla/Getty Images







While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.










The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.




With Trump on the campaign trail, Melania has stoically stood by his side.




But who exactly is Melania and where did she come from? Learn about Trump's other half here ...





Melania Knauss was born April 26, 1970, in Slovenia.




Wikimedia/Getty







The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.



Chris Hondros/Newsmakers via Getty









She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.








Wikimedia/Getty

Source: MelaniaTrump.com









But after graduating, her modeling career took off and Me…