Greater ChinaOperations

COSCO deepens ties with China’s largest car manufacturer

Photo of Sam Chambers Sam ChambersOctober 12, 2022
510 Less than a minute

China’s largest shipping line is deepening ties with the country’s top automotive brand.

SAIC Motor will transfer a 5.8% stake in SAIC to COSCO, while COSCO will offer 5% of its listed company COSCO Shipping Holdings in return, the latest in a long line of state-run entities mixing shareholdings.

In July this year COSCO Shipping Specialized Carriers started work with Shanghai International Port Group’s SIPG Logistics and SAIC Motor’s Anji Logistics to create a dedicated car transport firm.

COSCO stated the plan was to use its own ships to begin with and then to expand the fleet via newbuilds, charters or buying existing tonnage.

SAIC Motor is China’s largest car manufacturer. It sold 5.27m cars last year.

Photo of Sam Chambers Sam ChambersOctober 12, 2022
510 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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