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Captain Wei makes way at Cosco

Captain Wei makes way at Cosco
China Ocean Shipping Group (Cosco) today announced the retirement of Captain Wei JiaFu, chairman of the board and secretary of the party committee.

One of the leading figures of the Chinese shipping industry, Wei is an experienced ship's master and has served as president of a number of the group's subsidiaries over the years, becoming president and ceo of Cosco in November 1998 and chairman and secretary in August 2011.

Wei is a highly charismatic figure who led Cosco through a huge period of expansion as China transformed into the driving force of global shipping and the economy. He received numerous honours during his career including the prestigious Seatrade Lifetime Achievement award in May 2010

Stepping up to the role of group chairman is director, president and deputy secretary of party committee Ma ZeHua. Executive vice president and party committee member Li YunPeng has been appointed as the group president.

Ma was appointed to his current role in August 2011 after working at a number of subsidiaries both in China and abroad, including as president of Cosco's operations in the UK and USA. A graduate from Shanghai Maritime University, majoring in ocean shipping and international law, Ma has a master's degree and the qualification of senior economist.

Li started his career at Cosco in Tianjin in 1976 and moved to the group's headquarters in 1998, filling a number of management roles until taking the post of evp and party committee member in December 2011. He has a master's degree in ship and naval architectural design from Tianjin University which he earned in September 2001.