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|  | | Sinotrans and CSC to merge |
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¡¡¡¡China¡¯s state-owned logistics service provider Sinotrans Group and China Yangtze Transportation Group are talking about a merger and related reorganization.
¡¡¡¡The merger, if it proceeds, would create the second largest shipping logistics firm by assets in China after COSCO Group.
¡¡¡¡Sinotrans is trying to group its container shipping businesses under its flagship Sinotrans Container Lines.
¡¡¡¡Yangtze Transportation Group, one of China¡¯s largest river-shipping operators, had a fleet of about 2,800 vessels and net assets of RMB41.2 billion at the end of 2007.
¡¡¡¡The company, also known as China Changjiang National Shipping, has 19 units located along the Yangtze River as well as two China-listed units, Chang Jiang Shipping Group Phoenix and Nanjing Tanker.
¡¡¡¡Yangtze Transportation Group also has a shipbuilding unit that exports ships to the U.S. and Europe.
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