In a 2020 federal court filing related to McKinsey’s advisory role in bankruptcy proceedings, the firm cited its association with COSCO. In the same year, the shipping company announced in a press release that it had been advised by McKinsey.

As part of China’s Belt and Road Initiative, COSCO has poured Chinese government money into ports around the world and other logistics centers. In recent years, COSCO has acquired a majority stake in the Greek port of Piraeus, invested in a new container terminal in the United Arab Emirates and acquired a large part of the Peruvian port of Chancay.

According to regional analysts, COSCO is part of a core of state-owned companies that are part of the country’s defense industry and are given special status by the ruling Communist Party of China. The company has provided logistical support to the Chinese Navy’s escort operations in the Gulf of Aden, and experts say it serves as the maritime logistic arm for the People’s Liberation …



Source link

Leave a Reply