China COSCO denies having cash flow woes
Renegotiations over unpaid bills are said to be 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.