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cosco container shipping vessel

Cosco invests $200 Million in 154,000 Second-Hand Containers

July 17, 2017 12:05 am Published by

Cosco Shipping's container leasing arm, Florens Container Investment, has entered into an agreement to invest $200.38 million into the purchase of 154,000 second-hand shipping containers.

As the company strives to develop its container leasing business in the long run and become an industry-leading leasing company with unique competitive edge on the basis of the current leasing business, the acquisition is in line with the business of the group and will expand the scale in its container leasing business. In addition, the acquisition would increase the proportion of self-owned containers of the group and ensure that the group’s demand for containers is satisfied.- CSDC

According to CSDC, a main subsidiary of Cosco Shipping, the acquisition will be funded by internal resources and external debt financing of the group.

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