COSCO Group, China Shipping Sign Cooperation Agreement

COSCO Group and China Shipping signed a Strategic Cooperation Framework Agreement in Ocean Plaza on February 13, 2014. The two sides will establish a comprehensive strategic partnership and a resource sharing mechanism in areas of shipping, terminal operation, logistics, shipbuilding, ship repair, etc.

The agreement will help the two companies achieve advantage complementation and coordinated growth, and be better prepared for industrial changes, so as to improve the influence of Chinese shipping companies in the world shipping industry.

The ceremony was attended on behalf of COSCO Group by Chairman Ma Zehua, President Li Yunpeng, and on behalf of China Shipping by Chairman Xu Lirong, and President Zhang Guofa. Relevant executives of both companies also attended the ceremony.

COSCO, February 17, 2014