COSCO To Buy 90,000 Containers

COSCO Pacific Ltd plans to spend $150 million buying 90,000 TEUs this year to boost the number of its containers by about 18 percent to 600,000 TEUs, company managing director Shi Qin said. The ship container leasing and handling company would start providing an online container leasing service in June. COSCO had debts of $490 million at the end of last year, he added without giving further details. - (Reuters)