China Ocean Shipping (Group), the mainland's largest maritime company, plans to more than double its fleet from the current 550 ships by 2020, and has started sounding out the financial market in its first steps to raise cash for new building plans. The firm is trying to decide if it will let its British subsidiary, Cosco UK, own or manage ships. Some ships may also be flagged in Britain, in order to benefit from the UK's favourable maritime tax climate. Cosco may also list companies in Asia, London and New York as part of its fund-raising effort.

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