China Ocean Shipping (Group) Co. Chairman Wei Jiafu said the group is interested in investing in ports in the U.S., amid the global shipping industry downturn, Market Watchreports.
Wei, who is also chairman of state-owned Cosco's listed shipping unit Cosco Holdings Ltd. , also told reporters on the sidelines of a conference in Hong Kong the group has successfully negotiated lower charter costs for most of its dry bulk shipping fleet, but declined to elaborate.
Earlier this year, Cosco halted charter payments on some ships leased from Chinese and Greek ship owners at the peak of the bulk shipping boom before 2009, due to contract disputes. Three ships were seized before the company resumed payments.
Wei, who is also chairman of state-owned Cosco's listed shipping unit Cosco Holdings Ltd. , also told reporters on the sidelines of a conference in Hong Kong the group has successfully negotiated lower charter costs for most of its dry bulk shipping fleet, but declined to elaborate.
Earlier this year, Cosco halted charter payments on some ships leased from Chinese and Greek ship owners at the peak of the bulk shipping boom before 2009, due to contract disputes. Three ships were seized before the company resumed payments.