China featured a top position in the Pacific freight market

Almaty. July 10. Silkroadnews – China has become the new leader in the Pacific freight market, Bloomberg reported.
“The offer by the state-owned company Cosco Shipping Holdings Co.’s for purchase of Orient Overseas International Ltd. for $6.3 billion will result in creation of the largest company engaged in the transport of goods to North America from Asia to overcome the Copenhagen A.P. Moller-Maersk A/S and French CMA CGM SA. As a result of the merger announced in Hong Kong on Sunday, the largest cargo carrier operating across the Pacific will enter the market”, the report said.
Entering the market the new company, as said, will contribute to raising the tariffs in the US direction, which is especially important for the industry suffering from a crisis of overproduction and constantly declining tariffs.
Cosco-Orient Overseas will be able to transport an average of 77,208 containers per week between Asia and North America.