EnTrading in COSCO Shipping shares have been suspended ahead of a major announcement. That may focus on an investment fund to be run by its Development subsidiary to invest in a range of projects from ship financing to “bad asset” investments. The move follows the securing of 180 billion yuan ($26.1 billion) of finance earlier this year from CDB. It may also be a response to the South Korean government’s refinancing of its shipping industry and the Chinese government’s “belt and road” strategy. Panjiva analysis shows COSCO Development’s net debt reached 90 billion yuan in the first quarter...
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