COSCO to further expand e-commerce footprint

China COSCO Shipping Corp Ltd, the country's biggest shipping company in terms of container vessels, will continue to develop e-commerce business and other tailor-made services with domestic and global partners this year, a top official said on Monday.

Since 2017, the company has already sealed over 10 major business deals with domestic manufacturers, such as First Automobile Works Group and online shopping giant JD, to develop not only shipping business but also partnerships to strengthen cooperation in logistics, finance, technology and e-commerce, thereby enhancing its earnings ability amid fierce market competition.

The group operates 1,123 vessels including 422 bulk ships and 155 oil tankers across the world. Supported by its developed industrial chain, it is now able to operate 52 ports and 218 berths throughout the world in countries including Spain, Greece and Singapore via mergers and acquisitions over the past decade.