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China Shipping Development proposes name change, appoints new chairman

China Shipping Development Company (CSDC) has proposed a change of name and appointed a new chairman with effect from 3 June 2016.

Lee Hong Liang, Asia Correspondent

June 6, 2016

1 Min Read
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The Chinese tanker and bulker shipowner will change its company name to Cosco Shipping Energy Transportation (CSET), as a result of the merger of its parent firm China Shipping Group with China Cosco Group.

Shanghai and Hong Kong-listed CSDC said the proposed change of name is subject to approval by shareholders and the ministry of commerce and the relevant authorities.

The new CSET will focus on seaborne transportation of oil and LNG going forward.

Meanwhile, CSDC has appointed a new chairman, Sun Jiakang, effective 3 June, replacing Xi Lirong, who has tendered his resignation so as to “focus on attending to matters incidental to the restructuring of the controlling shareholder of the company [CSDC].” Xu is named as the chairman of the merged China Cosco Shipping Corporation (Coscocs).

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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