The newly merged China COSCO Shipping Co. officially launched COSCO Shipping Energy Transportation Co. earlier this week and appointed Sun Jiakang to lead the bulk segment of China’s largest shipping conglomerate.
China COSCO Shipping Co. (COSCOCS), the newly merged shipping conglomerate formed from the former companies COSCO and China Shipping (CSCL), has rebranded its bulk division and appointed a new president.
The board of the previous China Shipping Development Co., the bulk shipping arm of CSCL, proposed to change its name to COSCO Shipping Energy Transportation Co. Ltd following a combination with COSCO Dalian Ocean Shipping Co., according to a statement from the company. Upon completion of the merger, the company is expected to focus on shipping petroleum products and liquid natural gas.
The proposed name change will be discussed and voted upon at an extraordinary general meeting of shareholders that has yet to be scheduled.
In addition, the board selected Sun Jiakang as chairman of both COSCO Shipping Energy Transportation and its strategy committee, effective June 3, 2016, following the simultaneous resignation of current Chairman Xu Lirong.
Sun, a 30-year shipping veteran, currently serves as a vice president and party committee member of China COSCO Shipping Corporation Ltd. an executive director of China COSCO Holdings Company Ltd. and the chairman of COSCO Shipping Company Ltd.
COSCOCS rebrands bulk division, appoints new president
