COSCO PLANS MORE SHIPPING COOPERATIVE AGREEMENTS
China Ocean Shipping Co., the parent company of Shanghai-based COSCO
Container Lines, said that it plans to further strengthen cooperation with other shipping
companies.
COSCO Container Lines now has cooperation and space leasing agreements
with "powerful shipping companies like "K" Line, Yangming, Evergreen, OOCL
and so on," a spokesman for the Chinese carrier said.
"This enables COSCO to obtain much more market space with low
cost," the spokesman added. Given the growing trend towards worldwide shipping
alliances, COSCO said that it will expand cooperation with other shipping companies and
upgrade its service quality.
COSCO Container Lines had joined, in January 1998, a global alliance
with "K" Line and Yangming Marine Transport that covers the Asia/Europe,
transatlantic and transpacific trades.