Sinotrans & CSC Group, the third-largest shipping and logistics conglomerate in China, has moved to bring its marine transport subsidiaries under one roof after they booked record losses in 2013. Zhen Li, chairman of Hong Kong-listed Sinotrans Shipping, told IHS Maritime that at the end of June the group had set up a united shipping business entity in the pilot free trade zone in Shanghai. Li said the entity, the name of which has yet to be decided, was the product of a merger of the group's marine transport divisions' management and operations. Li, already among the key figures in Sinotrans & CSC, is at its helm. Such a move has been coming for some time. Ever since the group was created from a merger of Sinotrans Group and China Changjiang National Shipping in March 2009, it has been constrained in its struggle against the shipping recession by longstanding organisational disorder.
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