China Shipping secures $100 million loan
China Shipping Container Lines and ING Group (Netherlands) Thursday took part in a signing ceremony in Shanghai for a $100 million loan to be used exclusively in the Chinese carriers’ container shipping unit.
China Shipping said the loan represents its first such agreement with any financial institute, and has plans for more.
“The future cooperation probably will not have to be restricted in container shipping financing with the robust development, there should exist more far-reaching and wide cooperation projects,” China Shipping said.