SHANGHAI, Apr. 6 (Xinhua) - China's state-run shipping giant - China COSCO Shipping Co., Ltd. also the fourth largest container shipping firm and second largest port operator in the world, is eyeing investment in overseas ports alongside the Belt and Road route.
So far, COSCO Pacific, an affiliate of China COSCO Shipping, operates 39 container terminals globally and its port business expanded to cover all coastal provinces in China, which strengthens its port business alongside the Belt and Road route and creates conditions for its expanding layout in overseas market.
China COSCO Shipping deployed the business in line with changes in global shipping market where ultra large-size and professional container shipping triumphs. On March 28, COSCO Pacific inked an agreement over cooperation in large container terminal investment with Port of Singapore Authority.
Benefiting from its container shipping business resources integration, its affiliate - China COSCO Holdings Co., Ltd. announced recently that its container terminal business remained stable in 2015 and annual net profits stood at 283 million yuan. (Contributed by Jia Yuankun & Edited by Duan Jing, duanjing@xinhua.org)
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