China’s state-owned shipping giant COSCO is again throwing its weight around, this time to the distress of Brazil. COSCO may now have backed off from an earlier refusal to pay fees on long term bulk carrier charters because it was losing money thanks to a collapse in freight rates. That refusal created waves throughout the shipping and ship financing worlds. But it was not the end of COSCO’s efforts to manipulate global markets in its own interest.
Chinese Shipper Says Do It Our Way
Chinese Shipper Says Do It Our Way
Chinese Shipper Says Do It Our Way
China’s state-owned shipping giant COSCO is again throwing its weight around, this time to the distress of Brazil. COSCO may now have backed off from an earlier refusal to pay fees on long term bulk carrier charters because it was losing money thanks to a collapse in freight rates. That refusal created waves throughout the shipping and ship financing worlds. But it was not the end of COSCO’s efforts to manipulate global markets in its own interest.