A new company, COSCO Shipping Heavy Industry Co., Ltd, has been established by China COSCO Shipping Corporation group as it proceeds with the restructuring of its shipyard business, according to a media release at the SGX.
China COSCO Shipping Corporation said that the shipyard business restructuring is geared towards centralising operations and management of the shipyard businesses of the China COSCO Shipping Corporation group. The company has not yet disclosed the details of the restructuring, as various possibilities are still under consideration.
China COSCO Shipping Corporation admits that there will exist significant uncertainty as to the price of the companys securities, but assures that th…
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