Ningbo: Ma Zehua, chairman of Cosco Group, has called for the strengthening of co-operation between shipowners.
“Currently the whole shipping industry is suffering pressure, I think shipowners should strengthen co-operation with each other and eliminate vicious competition,” Ma said today at the Cosco-organised World Shipping Summit in Ningbo.
“We should work together on reducing cost, innovation and looking for a balance point of maximum common benefits, and Cosco will take a lead to make such efforts,” Ma added.
Ma reckons that with the diversification of the shipping market, there are cooperation opportunities in other non-traditional shipping-related industries which could help to to increase the competitiveness for shipping companies. [07/11/13]