In order to seize the rare opportunity of low ship prices in the current shipbuilding market, Guangzhou COSCO Shipping Ro/Ro Transportation Co., Ltd., a subsidiary of COSCO Shipping, has invested in the construction of two 2200 berth domestic trade automobile ships by Wuhan Shipbuilding Heavy Industry. The total investment amount is about 352 million yuan, and it is expected to be delivered by the end of 2019.

On March 7th, the signing ceremony for the construction of two new 2200 berth roll on/roll off ships by COSCO Shipping was held at Wuhan Shipbuilding Group. Jin Beiyuan, the General Manager of Guangzhou COSCO Shipping Ro/Ro Transportation Co., Ltd., a subsidiary of COSCO Shipping, Sun Yong, the Minister of Ship Trade Department of China Shipbuilding Industry International Trade Co., Ltd., and Zhang Guoqiang, the Deputy Chief Engineer of Wuhan Shipbuilding Group, respectively signed the construction contract on behalf of their respective enterprises. The contract will officially take effect after being approved by the board of directors.

Leaders and guests including Liu Xueliang, CFO of COSCO Shipping Special Transport, Yang Zhigang, Chairman of Wuhan Shipbuilding Group, Yan Jingliang, Deputy Secretary of the Party Committee, Liang Shiqing, Deputy General Manager, and Yao Shenghua, Deputy General Manager, Hu Jintao, President of Shanghai Shipbuilding Research and Design Institute, and Zhang Yan, Deputy General Manager of COSCO International Shipbuilding Trade (Beijing) Co., Ltd., witnessed the signing ceremony.

The construction of two new 2200 berth domestic roll on/roll off ships this time is an important measure for COSCO Shipping and Special Transport to adhere to the "special" development strategy and provide personalized and customized transportation services for strategic customers. In recent years, COSCO Shipping has continuously increased its cooperation with strategic customers. Since 2016, its wholly-owned subsidiary, Guangzhou COSCO Shipping Ro/Ro Transportation Co., Ltd. (hereinafter referred to as "Ro/Ro Company"), has undertaken all sea transportation businesses in the coastal domestic market of BAIC Group. The good cooperation between the two parties continues to consolidate and develop, and the good performance of Ro/Ro Company in Toyota's sea transportation has also been highly recognized and appreciated by Toyota on multiple occasions. In January of this year, the roll on/roll off company was awarded the "2017 Best Business Correspondence Award" and "2017 Best Safety and Quality Award" by Tongfang Global (Tianjin) Logistics Company, a subsidiary of GAC.

In 2017, the company's Changrongkou and Chang'ankou vessels served the Toyota Tianjin Nansha route, ranking among the top six operational vessels in terms of safety and quality, delivery guarantee, and operational information reporting. The company relies on the market advantages formed over the years to occupy a certain market share in the domestic coastal automobile transportation market. However, the age and competitiveness of some of the company's ships have been declining year by year, especially the "Changfakou" and the managed "Zhonghai Expressway" two car ships, which have exceeded 30 years of age and will be forced to retire in 2019 according to regulations. The construction of two new 2200 berth domestic roll on/roll off ships this time is a targeted capacity enhancement and structural optimization carried out by the company to meet the transportation needs of strategic customers, which will further enhance the quality and level of service to the company's strategic customers. At the same time, as a necessary capacity supplement for domestic coastal transportation, it replaces retiring ships to meet the needs of maintaining strategic customers and maintaining market share.

COSCO Shipping Special Transport currently owns and controls 11 new types of roll on/roll off ships with a capacity of over 50000 parking spaces, covering a range of 2950-6400. The cabin is flexible and has strong cargo adaptability, and the route covers the main areas of China's automobile coastal and riverside domestic trade and export. We are committed to providing customers with safe and high-quality whole vehicle transportation and "factory to store" full logistics services.