Cosco Shipping to establish joint venture with Geosea

Cosco Shipping to establish joint venture with Geosea

Cosco Shipping, the specialised vessel unit of China Cosco Shipping Group, is forming a joint venture with Belgian offshore wind power engineering company Geosea.

The two companies will each invest RMB75m ($11.5m) to hold 50% equity shares in the joint venture.

Cosco Shipping said the joint venture will charter vessels or purchase new vessels for its fleet to develop the offshore wind power engineering market.

In the meantime, Cosco Shipping will separately invest RMB25m ($3.8m) to establish a new engineering firm, which will obtain offshore wind power projects and contract the joint venture.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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