Shipping firm slows its vessels to save on fuel

China Ocean Shipping (Group) Co (COSCO), one of the country's largest shipping firms, is mulling over a plan to reduce the cruising speed of all of its ships by 10 percent, in order to lower fuel consumption and reduce emissions.

At the start of the year, the state-owned company launched a pilot scheme cutting the speed of its container ships, which account for 65 percent of total energy consumption, by 10 percent.

Chen Zhengjie, director of the firm's safety & technology superintendent division, said yesterday the results have been impressive.