Shipping Giants Seek Control of ‘Silk Road’

- , 20/04/2017, 16:50


Chinese state-run shipping companies are investing billions of dollars in ports worldwide to ease the movement of Chinese goods, as the ocean-freight industry emerges from a slump and Beijing becomes a vocal promoter of globalisation.
The moves are paying off financially for the likes of Cosco Group and China Merchant Holdings International, but the overriding objective, Chinese officials say, is to control one of the world’s busiest trade loops. Ports on the route, running from Asia through the Suez Canal to Europe, would give priority to Chinese vessels.

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