COSCO Shipping International Singapore has launched a bid for logistics services operator Cogent worth $358 million. The deal will provide COSCO with improved end-to-end services as it incorporates Cogent’s landside container handling operations. The deal is completed at a valuation of 10x EBITDA, including debt. Analysts expect Cogent’s growth to be just 2% in EBITDA terms in the current year. Given NYK’s bid for Yusen Logistics was done at 9x with 22% growth, and the freight forwarders (admittedly including airfreight) trade at 14.5x with 9% growth, COSCO will presumably be hoping to b...