We have no cash flow problems: China COSCO

The firm said renegotiations over unpaid bills are going well.

A Reuters report said the shipping conglomerate is in talks with several shipowners, seeking to prolong payments and reduce costs following a sharp downturn in the freight market.

A COSCO official, who asked not to be identified, said the talks are purely commercial behavior and stressed that the company has no cash flow problems.

View the report here.

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