COSCO Shipping boosts procurement portfolio

SHANGHAI : COSCO Shipping has signed a number of procurement agreements with suppliers from Japan and Singapore at the fourth China International Import Expo (CIIE) in the National Exhibition and Convention Center (NECC) in Shanghai.

During the event, China Marine Bunker Supply Company (CHIMBUSCO) signed bunker fuel oil procurement agreements; COSCO Shipping Trading signed a petroleum asphalt procurement agreement; and Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) signed ship equipment and ship plates procurement agreements with suppliers.

The signing of the above procurement agreements will further promote the long-term and stable development of COSCO’s various businesses, according to a statement.

Furthermore, COSCO Shipping Logistics Shanghai, Jiangsu Provincial Foreign Trade Corporation (JSFC), and Jiangsu International Rail Freight Express Co., Ltd. (JSRF) signed a tripartite cooperation agreement at the CIIE exhibition hall of the Piraeus Port Authority.

Based on the principle of “long-term mutual benefits and win-win results”, the three parties will give full play to their respective advantages and resources to strengthen cooperation in the fields of domestic and international warehousing, transportation, and import and export logistics, so as to lay a solid foundation for them to usher in a new cooperation pattern of “creating key development opportunities for each other as the preferred partners”.