The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
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Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
South Korean ocean carrier Hyundai Merchant Marine is backing out of a joint bid with MSC for Hanjin’s 54 percent stake in the largest container terminal at the Port of Long Beach, according to a report from the Wall Street Journal.
The agreement, which will infuse $26 billion into the state-run ocean shipping conglomerate over the next five years, will serve China's "One Belt, One Road" strategy, according to a statement from China COSCO Shipping.