Since 2011, freight volume of COSCO has maintained steady. However, subject to the inflation and appreciation of RMB, profit of the whole industry chain has diluted gradually, freight rates are hardly to be increased. Therefore, COSCO starts innovation of business model which uses 27 thousand DWT multi-purpose vessels and 28 thousand DWT heavy lift and focuses on main routes transportation connecting Asia, Europe, Africa and America. Meanwhile, it conducts regional logistics through transit shipment business.

In mid-2011, COSCO’s average freight rates of multi-purpose vessels and heavy lift were USD9, 000/day and USD12, 000/day respectively, wherein the average rates for 27 thousand DWT multi-purpose vessels and 28 thousand DWT heavy lift are all approximately at USD17, 000/ day.

Currently, COSCO has more than 90 vessels in operation (wherein over 60 are self-owned), of which freight capacity reaches 2.09 million DWT. By the end of 2011, another 3 vessels will be brought into service; furthermore, 7-8 vessels will be delivered by 2012-2013. It is expected that fleet framework construction will be completed in the next 3 years.  

Scale Change of Dry Bulk Cargo Fleets and Container Fleet

Source:ResearchInChina