Sinotrans, one of the leading Chinese tanker owners, has set its sights on merging with China Yangtze (Changjiang) Transportation (CSC).
The merger of two companies would form the second largest shipping organization in China after COSCO. However, Sinotrans is required to first seek approval from the Central Government's State Council State Assets Committee for the proposed merger. CSC's large shipping division focuses on the international trade in oil, containers and bulk. It also offers logistics services related to its shipping operations. It has a strong presence in the Yangtze River Delta, which is regarded as especially important, given the Chinese government's policy to develop the economy of the area. Sinotrans revenue from its main businesses in 2007 totalled US$8.44 billion and the group is targeting a revenue of US$11-14 billion in 2010.
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