COSCO (H.K.) GROUP

COSCO International's wholly-owned subsidiary, COSCO International Ship Trading Company Limited ("COSCO Ship Trading"), is mainly engaged in the provision of ship trading agency services and acts as an upstream services provider in the supply chain of provision of shipping services. COSCO Ship Trading is currently the only window company within COSCO Group providing exclusive agency services relating to shipbuilding, ship trading and chartering mainly for COSCO Group's fleets, including negotiating of purchasing of new build and the purchase and sale contract of second hand vessels, follow-ups of the construction and delivery process of new builds. COSCO Ship Trading also provides agency services to non-COSCO Group shipping companies.

In recent years, COSCO Ship Trading has actively expanded its trading network with ship owners and ship builders in China Mainland and has developed long-term business relationship with overseas shipping companies, ship builders, marine brokers, vessel classification societies and marine equipment suppliers. Looking forward, COSCO Ship Trading will continue to provide high quality services for COSCO Group's fleet and explore the provision of ship trading agency services for non-COSCO Group customers. In addition, COSCO Ship Trading will put more efforts on the development on new business such as charter leasing, so as to deliver the best and comprehensive service solutions to its customers.