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Cosco Shipping Investment (Dalian) set up to develop Northeast China business

China Cosco Shipping Corporation has officially established Cosco Shipping Investment (Dalian) with an aim to invest in and develop new businesses in Northeast China.

The inauguration ceremony on Thursday in Dalian was attended by Tan Cheng Xu, Mayor of Dalian, Xu Li Rong, chairman of China Cosco Shipping, and Yang Shi Cheng, chairman of Cosco Shipping Investment (Dalian) attended the inaugural ceremony in Dalian.

Mayor Tan Cheng Xu said the establishment of Cosco Shipping Investment (Dalian) is an important cooperation between Dalian and China Cosco Shipping.

Cosco Shipping Investment (Dalian) is a major move of the group’s reform and restructuring and it will optimizse the group’s layout in north China region, said Xu Li Rong. coscodalian1

As a direct-owned subsidiary of China Cosco Shipping, Cosco Shipping Investment (Dalian) will be a platform for the group to invest in and develop northeast China, and explore new business sector and new technology.

The predecessor of Cosco Shipping Investment (Dalian) is Cosco Dalian, which was established in 1978. Cosco Dalian owned a fleet of over 40 oil tankers and LPG ships, was the oil tanker operation arm of Cosco.

The company had been reformed by Cosco Shipping Energy Transportation in 2016 and changed the company name to Cosco Shipping Tanker(Dalian). All of its fleet had been handed over to Cosco Shipping Energy Transportation.

Cosco Shipping Investment (Dalian) currently owns and operates seven entities involved in the businesses of hotel, physical supply, liquid gas transportation, ship management, ferry and electronic engineering, plus a society organization of China Institute of Navigation (Liaoning) Branch.

The company plans integrate and optimise its resources and support Dalian in its development as a Northeast Asia shipping hub.

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