{"id":2786,"date":"2013-06-06T00:00:00","date_gmt":"2013-06-06T00:00:00","guid":{"rendered":"https:\/\/splash247.com\/?p=117"},"modified":"2015-02-20T23:44:29","modified_gmt":"2015-02-20T23:44:29","slug":"cosco-bulk-shipping-chartering-shift","status":"publish","type":"post","link":"https:\/\/splash247.com\/cosco-bulk-shipping-chartering-shift\/","title":{"rendered":"Cosco Bulk Shipping: Chartering shift"},"content":{"rendered":"<p>\n\t&nbsp;<\/p>\n<div>\n\tTianjin: At the end of 2011, mighty Cosco Group, hemorrhaging red ink like a horror movie stunt double, established Cosco Bulk Shipping Group through the integration of all its bulk resources in a bid to staunch losses. The amalgamation saw the coming together of Cosco Bulk Carrier, Cosco (Hong Kong) Shipping and Cosco Qingdao, forming the world&rsquo;s largest bulker fleet consisting of 230 self-owned bulkers with a total capacity of 18m dwt. It also controls over 400 vessels with a total capacity exceeding 35m dwt.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tXu Zunwu was appointed general manager and vice chairman of the bulk shipping giant.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tAfter his graduation from Shanghai Maritime University in the late 1970s, Xu joined Cosco Guangzhou in 1982, his 30-year-career in Cosco included becoming deputy general manager of Cosco Guangzhou, managing director of Cosco (Hong Kong) Shipping, and managing director of Cosco Bulk Carrier.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tDespite operating among the most diverse range of ships in its fleet, Xu says bulk carriers remain the most important to Cosco.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\t&ldquo;The shipping market is still in the doldrums,&rdquo; Xu admits. There are an increasing number of non-traditional shipowners ordering ships, he says, and some large cargo owners monopolising the spot market. &ldquo;From a long term view, the international dry bulk market is still in a periodic downturn, however, China remains the main driving force of the global dry bulk market, I think the market outlook is cautiously optimistic,&rdquo; he tells Maritime CEO.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tTo deal with the market downturn, Cosco Bulk Shipping has been implementing a new fleet strategy which is &ldquo;changing from owning vessels to controlling vessels&rdquo;, according to Xu. Cosco Bulk Shipping has become very active on the charter market.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tXu says cargo owners should strengthen their collaboration with the shipping companies to establish efficient services and benefit each other. &ldquo;Currently, lots of cargo owners are taking advantage of the low shipbuilding prices to establish their own fleets or expand their shipping capacity,&rdquo; he relates, adding: &ldquo;I think this is a dangerous situation. If you look back, &nbsp;owned fleets by cargo owners usually end in failure, so a longer term vision is needed now to establish long and stable relations between shipping companies and cargo owners.&rdquo; &nbsp;[06\/06\/13]<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Tianjin: At the end of 2011, mighty Cosco Group, hemorrhaging red ink like a horror movie stunt double, established Cosco Bulk Shipping Group through the integration of all its bulk resources in a bid to staunch losses. The amalgamation saw the coming together of Cosco Bulk Carrier, Cosco (Hong Kong) Shipping and Cosco Qingdao, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ml_titleColor":"#000000","_ml_titleFont":"Roboto","_ml_titleFontSize":1.136,"_ml_titleFontWeight":"400","_ml_titleLineHeight":1.3,"_ml_metaColor":"#708090","_ml_metaFont":"Montserrat","_ml_metaFontSize":0.6785,"_ml_metaFontWeight":"400","_ml_metaLineHeight":0.92,"_ml_bodyColor":"#a9a9a9","_ml_bodyFont":"Open Sans","_ml_bodyFontSize":0.85,"_ml_bodyFontWeight":"400","_ml_bodyLineHeight":1.2,"_ml_wooPriceColor":"#666","_ml_wooPriceFont":"Open Sans","_ml_wooPriceFontSize":0.9,"_ml_wooPriceFontWeight":"400","_ml_wooPriceLineHeight":1.27,"_ml_headingColor":"#000","_ml_headingFont":"Merriweather","_ml_headingFontSize":2.02,"_ml_headingFontWeight":"700","_ml_headingLineHeight":1.47,"_mlglobal_userfontcolors":{"headingColorUser":[],"titleColorUser":[],"metaColorUser":[],"bodyColorUser":[],"wooPriceColorUser":[]},"_uag_custom_page_level_css":"","footnotes":""},"categories":[81],"tags":[142],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cosco Bulk Shipping: Chartering shift - Splash247<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/splash247.com\/cosco-bulk-shipping-chartering-shift\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cosco Bulk Shipping: Chartering shift - Splash247\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Tianjin: At the end of 2011, mighty Cosco Group, hemorrhaging red ink like a horror movie stunt double, established Cosco Bulk Shipping Group through the integration of all its bulk resources in a bid to staunch losses. 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