A U.S. Federal Maritime Commissioner said he was told earlier this week by representatives of China Shipping Container Lines and Cosco that the container lines are in the early stages of a merger.
FMC Commissioner William Doyle told JOC.com that China’s two largest container lines are working to be as transparent as possible regarding the planned merger and carrier executives plan to meet with the FMC next month in Washington D.C. The statement from Doyle — following his meeting with Cosco and CSCL executives at the U.S.-China Maritime Bilateral Consultations in Suzhou, China, this week— is arguably the most significant confirmation that the ailing carriers will become one.
A merged CSCL and Cosco would be the largest mover of goods from Asia to the U.S., according to an analysis of each’s market share in the first nine months of this year.