CoscoCS could use part of a credit facility from China Development Bank (CDB) to fund a potential takeover of Orient Overseas Container Line (OOCL).
The Chinese state shipping giant arranged loans worth CNY 180bn ($26bn) to support its development, following its restructuring.
It emerged yesterday that Cosco is preparing a $4bn bid for its smaller rival, according to a report from the Wall Street Journal.
And the Caixin website reported earlier today that the company will use $4bn from the CDB facilities in order to bid for its Hong Kong competitor.
According to Clarksons, OOCL controls a fleet of more than 60 vessels, with only few of them built before 2000.
VesselsValue.com estimates OOCL’s fleet value at around $1.5bn.
