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China reaffirms attempt to curb box shipping rates as Cosco stock tanks

A spokesperson for the Ministry of Commerce says the authority is pondering the rollout of measures to ‘increase shipping capacity and stabilise freight rates’

The stock price of Cosco Shipping Holdings slumped on Friday morning following a statement by Chinese officials. The box shipping unit’s share value had increased fivefold since mid-2020 prior to this latest correction

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