China Shipping (Group) Company was a shipping conglomerate under the direct administration of the State Council of the People's Republic of China. It was mainly engaged in shipping of oil tankers, passenger ships and container vessels. Other related businesses included ship and Terminal management, finance and investment, engineering, human resources, trading and information technology.
In December 2015 the China Shipping Group announced a merger with its larger government-owned compatriot, COSCO Group. The merger was completed in February 2016; producing the mega-entity China COSCO Shipping, to be headquartered in Shanghai. The businesses and subsidiaries of both China Shipping and COSCO were integrated into the company. The merger was triggered by a downturn in the container and marine shipping industry that stymied the financial health of both China Shipping and COSCO, thus motivating the two to unite and endure the decline together. Additionally, the merger is attributable to China's State-owned enterprise reform.
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Source of article : Wikipedia
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