Giant bulk company sets sail

Firm capable of carrying commodity goods to more than 100 countries, regions

COSCO Shipping Bulk Co was officially launched in Guangzhou on Thursday, forming the world's largest bulk vessel fleet in terms of both ship numbers and deadweight tonnage. The new company was formed by the merger of COSCO Bulk Carrier Co and China Shipping Bulk Carrier Co.

With a total of 382 self-operated and controlled bulk vessels and a capacity of 34.58 million deadweight tons, COSCO Shipping Bulk will be able to ship iron ore, coal, grain and other commodities to more than 1,000 ports in some 100 countries and regions. Its annual freight volume will exceed 340 million metric tons. It now has 18,500 employees, including 13,000 mariners. The average ship age in its fleet is eight years.