China Shipping Group held 2005 Reschedule Meeting in Xiamen

On December 10, China Shipping Group, the international shipping giant, held its 2005 Reschedule Meeting at Xiamen International Seaside Hotel. Over 200 representatives from customs and port organizations in main domestic port cities attended the meeting. The meeting reviewed the operation situation of China Shipping Group at various ports and planned lines setting of China Shipping Group at various ports in 2005. It also extensively discussed how to further deepen cooperation between both parties. Pan Shijian, vice major of Xiamen Municipal Peoples Government, participated the meeting and delivered a speech.
In 2004, totally 11 brand-new container vessels including four 8500TEU vessel, two 5668TEU vessels, three 5688TEU vessels and two 4051TEU vessels have been put into operation in China Shipping Group, which have sped up the progress of modernization, large-size and scale operation of the container fleet of the Group. In 2004, the Company newly opened US ANW line and Far East Europe AEX2 line, resumed US AAC line and upgraded choice lines of US AAS1 and Australia etc. Against the complicated situation and heavy competition in Japanese shipping market, the Company enhanced its cooperation with other shipping companies so as to further save freight capacity at Japanese and Korean lines and reduce the costs. In 2005, 20 vessels with nearly 100,000 TEU in total including one 8500TEU vessel, two 5668TEU vessels, two 5100TEU vessels and fourteen 4250TEU vessels will be put into operation in China Shipping Group. With new ships being put into operation one by one in the Group, in 2005 it will further improve its existing layout of shipping lines and further increase line density at main ports to meet the requirement on shipping space and delivery time from customers at various ports. The rescheduled lines related to Xiamen port will mainly include: increase shipping capacity of far east/west of US AAS1 line through upgrading its present 5600TEU vessel to five 8500TEU super sized container vessels and the called ports of this shipping line will include Shanghai / Xiamen / Yantian / Hongkong / Pusan / Long Beach; enhance service quality at Far east / east of US AAE1 US East line through launching in nine 4250TEU vessels and the sequence of called ports will be Pusan / Shanghai / Xiamen / Yantian / Hongkong / Panama / Manzanillo / Savannah / New York / Norfolk.
In recent years, China Shipping Group has firmly caught development opportunities in shipping market in an aggressive and innovative way to adopt a series of development measures, on which the shipping industry has focused attention again and again. Both fleet and vessels are young with high quality assets and reasonable structure and it has been qualified as the first class container vessel fleet in the world. At the moment there are 116 vessels in total owned by China Shipping Group with a total shipping capacity of over 250,000 TEU, ranking in the top ten global container liner companies. It is estimated that by the end of year 2005, the capacity of China Shipping Group will exceed 350,000 TEU and it will become the largest container liner company in China. The target of the Company is to become the first three liner companies in the world by the year 2010.
In 2003, the Group adopted reform on cargo freight system and established China Shipping Container Xiamen Co., Ltd in Fujian region. The new regional company focused on Xiamen and covered its surrounding areas like Quanzhou, Fuzhou, Zhangzhou and Putian etc., thus quickly promoted the impact of China Shipping brand in Fujian Region. At present China Shipping operates 13 lines in Xiamen port including Xiamen North America, Xiamen Europe, Xiamen Australia, Xiamen Africa, Xiamen Pusan, Xiamen Japan and Shanghai Fuzhou Xiamen. In 2003, container freight volume of China Shipping in Xiamen port reached nearly 170,000 TEU, ranking top of various large shipping companies in Xiamen.