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China's CIMC to buy Maersk's cold container business for $1.1bn

World's largest shipping box maker targets refrigerated market

CIMC said its leverage will increase 'slightly' after buying Maersk Container Industry. (Photos courtesy of CIMC and Maersk)

HONG KONG -- China International Marine Containers (Group), the world's largest maker of shipping containers, is set to expand its reach in refrigerated ones via a $1.08 billion deal with Danish conglomerate A.P. Moller-Maersk.

Shipping containers have been in focus amid disruptions to global transport that have seen freight rates climb to record levels, with some ports stuck with mountains of empty containers while exporters elsewhere struggle to find the steel boxes to send their goods overseas.

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