The Chinese state-owned company Cosco Shipping Corporation Ltd. could be investor in the Russian state shipping company Sovcomflot. There are rumors that Cosco has signaled to buy up to 30% of the shares and later to increase to 49%.
There is no official confirmation for a Russian newspaper report. It is known, however, that Sovcomflot has repeatedly postponed the planned IPO. The state-owned company plays an ambitious newbuilding program, including for ice-breaking LNG tankers – so it needs money.
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