COSCO SHIPPING announces the signing of two strategic cooperation deals

SHANGHAI : COSCO SHIPPING announced the signing of two cooperation agreements earlier in March here. COSCO SHIPPING and CITIC Group, a large multinational conglomerate specializing in both financial and industrial development, inked a strategic cooperation agreement in Shanghai on 18 March.

Under the terms of the agreement, the two companies will collaborate to embrace the new development concepts that align with the new developmental phase. They aim to forge a partnership spanning domains such as integrated finance, maritime logistics, equipment manufacturing, digitalization, and international business ventures.

Three days earlier, COSCO SHIPPING signed another strategic cooperation deal with Shanghai Electric Group, a global frontrunner in industrial green intelligent systems, to cement their partnership.

According to the agreement, COSCO SHIPPING and Shanghai Electric will engage in comprehensive collaboration, which spans sustainable fuels like green methanol, maritime shipping, logistics, marine equipment, vessel maintenance, and digital transformation initiatives. This partnership aims to provide each group with superior quality and efficiency in products and services, propelling both towards the fulfillment of their strategic partnership objectives.