On 19 December, the signing ceremony of the cooperation framework agreement between COSCO SHIPPING Bulk, COSCO SHIPPING Development and China Shipowners Mutual Insurance Association (CPI) was held at CPI's headquarters in Shanghai.

Mr. XU Lirong, Chairman of China Shipowners Mutual Insurance Association, Mr. WANG Yanping, Vice Chairman of the Association and Chairman of Fujian Guohang Ocean Shipping, Mr. CHEN Wei, Director of the Association and Chairman of COSCO SHIPPING Bulk, and Mr. ZHANG Mingwen, Chairman of COSCO SHIPPING Development attended the event and witnessed the signing of the agreement. PAN Siwei, General Manager of Strategy and Corporate Management Department of COSCO SHIPPING Bulk, CAI Lei, Secretary of the Board of Directors of COSCO SHIPPING Development and Chairman of Shipping Leasing Division, and SONG Chunfeng, General Manager of China Shipowners Mutual Assurance Association signed the agreement on behalf of the three parties.

According to the cooperation framework agreement, under the same conditions, COSCO SHIPPING Bulk and COSCO SHIPPING Development will give priority to China Shipowners Mutual Insurance Association as the insurance provider and risk management service provider, and the three parties will further deepen the cooperation, integrate and dock high-quality resources, share the development opportunities, realize synergistic development, and build a win-win and sustainable development partnership.

COSCO SHIPPING Development will take this opportunity to actively grasp the new trend of green, low-carbon and intelligent shipping, continuously improve the professional capacity of production and financing services, optimize the allocation of resources, continue to plow into the combination of production and financing, build a brand of production and financing, consolidate the leading position of the industrial ship leasing company in China, and work hard to build a world-class shipping production and financing operator with the characteristics of COSCO SHIPPING.