COSCO launches China Electric Ship Innovation Alliance

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COSCO Shipping Corporation Limited and COSCO Shipping Development have partnered up to form the China Electric Ship Innovation Alliance.

This alliance officially began on 8 February, following its founding conference which held more than 80 companies in attendance. 

These companies included the National Development and Reform Commission of China, the Water Transport Bureau of the Ministry of Transport, the Center for International Economic and Technological Cooperation, the Ministry of Industry and Information Technology, P.R.C., the United Nations Industrial Development Organization, the Yangtze River Maritime Safety Administration, the Shanghai Municipal Transportation Commission, the Shanghai Maritime Safety Administration, China Classification Society and China COSCO Shipping Corporation Limited. 

READ: COSCO SHIPPING wins bid for new HP contract

A strategic collaboration agreement for the Green Water Zero Carbon Project was also inked during the event. 

China Energy Engineering, China Cheng Tong, China Merchants Capital, and COSCO Shipping Development have all signed a cooperative agreement.

This alliance comes less than a month after COSCO Shipping Holdings bought an $814 million stake in COFCO Fortune worth 5.8 per cent.

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