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Vice Premier Han Zheng Inspected COSCO-PSA Terminal in Singapore

Date:2018-09-23 Read times: font size:[ L M S ]

From September 19 to 21, Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, was invited to visit Singapore. During his visit, Han inspected the Singapore City Gallery and PSA International Pte Ltd (PSA), and learned about the involvement of COSCO SHIPPING and PSA in the Belt and Road construction, according to Xinhua.

On the afternoon of September 19, Vice Premier Han Zheng, who was on a visit to Singapore, inspected the COSCO-PSA Terminal (CPT) at the Port of Pasir Panjang.

Han boarded COSCO SHIPPING CAPRICORN, a 20,000 TEU containership berthing at the port. He visited the automated terminal control center of PSA International Pte Ltd (PSA) and listened to reports by executives of COSCO SHIPPING and PSA on participating in the Belt and Road and southbound passage construction. Capt. Xu Lirong, Chairman and Party Secretary of COSCO SHIPPING, accompanied Han on his visit.

During the inspection, Han said the cooperation between COSCO SHIPPING and PSA sets a model of alliance between giants in the international shipping community. China-Singapore cooperation enjoys broad prospects, he said, urging the two companies to grasp the opportunities from the Belt and Road Initiative to further promote their cooperation.

As a joint venture between COSCO SHIPPING Ports and PSA, COSCO-PSA Terminal Pte Ltd (CPT) operates three container berths at Pasir Panjang. In recent years, the company has maintained a sound momentum of development with a steady increase in profits.

On the afternoon of September 20, Vice Minister of Transport He Jianzhong, who accompanied Han Zheng on his visit, inspected COSCO SHIPPING (Southeast Asia) Co., Ltd. and learned about COSCO SHIPPING’s operations in Southeast Asia. Speaking highly of the achievements made by COSCO SHIPPING in the region, he said the Ministry of Transport will continuously pay attention to and support the Group’s development in the region, and expected it to make greater contributions to the Belt and Road and southbound passage construction.

During his visit, Capt. Xu boarded COSCO SHIPPING CAPRICORN and CSCL SUMMER and extended his Mid-Autumn Festival blessings to the crew on behalf of the Group. He also presided over a working meeting of COSCO SHIPPING (Southeast Asia) in Singapore and greeted Chinese and foreign employees there.

During his inspection to Cogent Holdings Limited, Capt. Xu encouraged the Chinese and Singaporean management and staff to leverage the company’s system, service, management and cultural advantages to develop the Group’s logistics business and foster more synergies with the shipping business segment.

Cogent Holdings Limited was registered in 1960 in Singapore, where it has 260,000-square-meter warehouses and container yards able to accommodate 40,600 TEU, and operates more than 100 tractor-trailers and 400 trailers. In addition, the company also engages in bonded vehicle transportation and storage, with warehousing and  storage yard operations in Malaysia, Indonesia, Myanmar and Thailand. It was acquired by COSCO SHIPPING through a tender offer in 2018.

Mr. Sun Yunfei, Executive Vice President and Chief Financial Officer of COSCO SHIPPING, Mr. Wang Haimin, Managing Director of COSCO SHIPPING Lines, Mr. Zhang Wei, Managing Director of COSCO SHIPPING Ports, and Mr. Gu Jinsong, President of COSCO SHIPPING (Southeast Asia), as well as executives from the Operating Management Division and Finance and Accounting Division were also present at the activities.

 

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