Cosco sets up new tanker unit in Hainan

Cosco Shipping Energy Transportation (CSET), the energy shipping unit of Cosco, has set up a new tanker subsidiary in Hainan as part of its strategy to develop its shipping business in the region. Under the plan, Cosco will use RMB2.4bn ($343m) from a RMB5bn fundraising scheme, announced earlier this year, to replenish working capital of …

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