COSCO SHIPPING promotes new international land-sea trade corridor


COSCO SHIPPING Tianjin has attended the signing ceremony for the shareholder investment agreement of Beigang New Energy Investment Co., Ltd.

The joint venture is in partnership with Guangxi Beibu Gulf Port Group and the Port of Singapore Authority (PSA).

This comes as COSCO SHIPPING is looking to implement a series of agreements reached at the meeting between China and Singapore to promote the green, low-carbon, and intelligent development of the New International Land-sea Trade Corridor between China and ASEAN.

Liu Ning, Secretary of the Party Committee of Guangxi Zhuang Autonomous Region and Director of the Regional NPC Standing Committee, Li Yanqiang, Chairman of Guangxi Beibu Gulf Port Group, and Roger Tan, Regional CEO (Northeast Asia) of PSA witnessed the signing of the document.

Chairman and President of COSCO SHIPPING South East Asia Zhu Jiandong also attended the ceremony at the PSA headquarters in Singapore.

READ: Germany reconsiders COSCO investment in Hamburg port amid security concerns

The registered capital of Beigang New Energy Investment is 100 million yuan ($14.5 million).

The joint venture will commit itself to the in-depth development of new energy projects in Qinzhou Port Area and logistics park and the phased construction of distributed photovoltaic and distributed wind power projects.

The partnership is expected to deepen cooperation on the supply chain management and digitisation of the New International Land-Sea Trade Corridor.

It will also see cooperation in green port, clean energy, and many other fields to help achieve green, low-carbon, and intelligent development.

This comes as part of COSCO SHIPPING’s greater push towards a more environmental future.

In December 2022, COSCO SHIPPING successfully connected three wind turbines to the grid for power generation at the Port of Tianjin.

More recently, WinGD announced that it will supply 10X92DF-M methanol-fuelled engines to four 16,000 TEU containerships for COSCO SHIPPING Lines.

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