DALIAN, China/TOKYO -- China's state-owned shipping giant COSCO Group will spend $4.9 billion to expand its fleet in a renewed quest to become the biggest marine transporter on the planet.
Transportation
China's COSCO bets $5bn in 2nd shot at shipping crown
Ambitious expansion plan faces risk of industrywide capacity glut
COSCO Group is set to expand its carrying capacity by 20%, a move echoed by several competitors. (Photo courtesy of COSCO Group)
Read Next
.png?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
Latest on Transportation
