A. General introduction
II. Major subsidiaries and joint ventures
  1. Shipping industry
 
COSCO BULK CARRIER CO., LTD.
Nature of company:
Investment proportion:
Staff:
Core business revenue:
Total assets:
limited liability company
100%
6238employees
17.366 billion yuan
7.36 billion yuan

1.Core businesses:
international ocean bulk cargo shipping

2.Capacity of products and services:
The company owns about 80 large bulk carriers of all types such as Handysize, Panamax and Capesize, with the total deadweight tonnage of four million and the actual carrying tonnage of 14 million. The Capesize carrier has ever occupied 20% of the carrying capacity of the global merchandize market. And COSCO Bulk Carrier has become a Chinese shipping enterprise affecting the Baltic Dry Indicator, an indicator for global dry bulk cargo shipping market.

Insisting on the triune business mode of “ship owner, freeholder and broker”, COSCO BULK has gradually established its leadership in the international shipping industry. The company has formed strategic alliance of shared profits and risks with related enterprises, and established strategic partnership with core clients through satisfactory service creation to realize profit share. At the same time, COSCO Bulk has set up “multi-way harmonized cooperation mechanism” with other strategic partners to realize win-win cooperation among all partners. Through accurate analysis for the external and interior environment risks, the company has established risk precaution and pre-control system, to eliminate, transfer, disperse and dissolve risks and ensure healthy development.

As a large state-owned enterprise, COSCO Bulk has been taking national interest as its own task, and successfully completed important tasks of “taking oversea Chinese in Yemen with Shijingshan Vessel”, “taking oversea Chinese in Somalia with Yongmen Vessel”, “taking oversea Chinese in Congo with Fujingshan Vessel”, “saving Tonghuilong passengers in mishap with Yanjing Vessel”, etc. At the same time, the company has been taking active part in charity causes such as education donation and financial support for Tibet, and assuming social responsibilities, such as the long-term joint efforts with Tian’anmen Square National Flag Guard to improve civilization. All these have gained good social reputation for the company.

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COSCO Group, October 2006