China Cosco Shipping is behaving like a shipowner that outlived its problems. And who with better right? It's the world's biggest shipowner by some measures and enjoys the political and financial support of China's party-state.
And that at a time and place when China's central state-owned enterprise (SOE) policy is to support national champions in strategic industries, streamline them by hiving off non-core subsidiaries, and encourage them to overcome the world.
