Cosco's Wei may face pressure to resign

A Beijing-based lawyer and minority shareholder of Cosco, Zhang Yuanzhong, is gathering support to call a general shareholders meeting to replace Wei.

Under Chinese law, Zhang only needs more than 10% of shareholders to agree to call for the meeting, which could then happen within a couple of months. 

Cosco has warned investors of an expected full year significant net loss of around $1.5bn. The shipping firm faces possible delisting from Shanghai if it posts a third consecutive year of net loss in 2013.