Cosco Shipping Development Company Limited (formerly China Shipping Container Lines Company Limited), a specialized corporation affiliated to China COSCO Shipping Corporation Limited, is mainly involved in supply chain integrated financial services. It was established in 1997, with head office in Shanghai, the PRC, and is listed both in Hong Kong and Shanghai. The registered capital of the Company is RMB11.68 billion. As at June 30 2016, the Company had total assets of RMB101.29 billion.
On 1 February 2016, with the approval of the shareholders at the general meeting, CSCL carried out a material asset restructuring. Through restructuring transactions, CSCL is expected to experience a strategic transformation, and change from a container liner operator into an integrated financial services platform with leasing businesses such as vessel leasing, container leasing and non-shipping leasing as core and shipping financing as feature.
The Company is dedicated to developing an industry cluster with leasing, investment, insurance and banking as core businesses by relying on shipping financing, giving full play to the advantages of the shipping logistics industry and integrating resources of the industry chain; and to building a “one-stop” financial services group that combines shipping with finance, combines finance with finance and develops multiple businesses in synergy through market-based mechanism, differentiated advantages and international perspective.
As at 30 June 2016, the Company had a fleet of 115 vessels with a total operating capacity of 842,000 TEU, including 74 self-owned vessels with a total operating capacity of 582,000 TEU. The Company had a container capacity of approximately 3.5 million TEU. In terms of non-shipping finance leasing business, the Company will focus on the development of medical services, education, new energy, construction, industrial equipment and other finance leasing business. Apart from diversified leasing businesses, the Company will also develop other integrated financial services, take full advantage of the experience in the shipping industry and the existing resources in the financial services industry to optimize its business model and diversify its financial business.
As a shipping finance platform, the Company is to integrate premium resources, give full play to the advantages of the shipping industry, develop multiple financial services in synergy, and commit itself to becoming China’s leading and the world’s first-class integrated financial services platform with distinct shipping logistic features.