Reorganization in a Decade and a New Departure -- With Green and Low-Carbon as the Sail and Compliant Governance as the Helm, COSCO Shipping Holdings Sets Sail on a New Journey of Strengthening at Sea

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（Source: China Water Transport Network）

Reprinted from: China Water Transport Network

In 2016, COSCO SHIPPING Holdings and COSCO SHIPPING Lines launched a restructuring and integration. This unprecedented industry transformation not only carries the great mission of helping China become a strong shipping nation under the overall strategy of national rejuvenation but also responds to the development questions of the container shipping industry amid the unprecedented changes in a century, injecting Chinese strength into reshaping the global shipping industry landscape.

This March, COSCO SHIPPING Holdings (601919) celebrated its tenth anniversary of restructuring. Over the past decade, facing multiple challenges such as supply and demand imbalance, green transformation, and geopolitical conflicts, the company has bravely taken on its mission and faced challenges head-on, successfully transitioning from a scale-based “quantitative change” to an ESG-driven “qualitative change.”

Standing at a new starting point, the company adheres to the original aspiration of “energy saving and carbon reduction, green development,” practices social responsibility through breakthrough innovation, and consolidates governance fundamentals with forward-looking strategies. This not only provides a solid guarantee for its high-quality sustainable development but also leads the global shipping industry toward a new journey of green, low-carbon, safe, and efficient development as an industry leader.

For 15 consecutive years, the company has disclosed high-quality ESG reports, demonstrating the responsibility of a state-owned enterprise.

Ten years of diligent progress, COSCO SHIPPING Holdings has moved from restructuring and integration to becoming a global benchmark, fully demonstrating the core responsibility of a state-owned enterprise. The company’s scale and strength have leapt forward, with revenue and market value both ranking first among A-share shipping and port companies, with revenue increasing more than fivefold and market value more than doubling since 2015; its global layout has deepened, fleet capacity has significantly increased, and overseas operations and global port networks have achieved breakthroughs, completing a remarkable transition from a regional shipping company to a global supply chain operator; ESG governance is at the forefront of the industry, with 15 years of high-quality ESG disclosures, steadily improving ratings to AA level, setting a benchmark for green and sustainable development in the global shipping industry.

Green revolution takes the lead, technology empowers low-carbon transformation

Over the past decade, COSCO SHIPPING Holdings has actively explored green transformation, driven by digitalization and greening, seizing the low-carbon development opportunity in global shipping with remarkable emission reduction effects. Relying on blockchain technology, the company has collaborated with GSBN members to develop digital products such as electronic bills of lading and HiEco green shipping certificates, improving trade facilitation while contributing practical experience to international standards; the “large order, multimodal” platform continues to deepen, injecting strong momentum into new productive forces and high-quality development.

The company has diversified green fleets, with over 50 orders for methanol and LNG dual-fuel ships. The world’s first 700-standard-container electric ship has been put into operation on COSCO SHIPPING’s Yangtze River route. According to statistics, this ship can save 3,900 kg of fuel per 100 nautical miles, and its annual carbon reduction per ship is equivalent to planting 160,000 trees; biofuel applications achieve 17% to 19% carbon reduction, with blockchain enabling quantifiable and traceable carbon reduction; the world’s first pure electric ship has been put into service, and a dedicated green certificate has been launched, achieving deep integration of “green ships + green services.”

COSCO SHIPPING Holdings is building green ports through port-shipping collaboration. Domestic controlled terminals have achieved full coverage of shore power, significantly reducing port emissions, and has initiated industry initiatives to promote low-carbon shipping. The company has long participated in the “Protect Blue Whales, Protect Blue Skies” project, with 89% of ship sailing in speed-restricted areas compliant, and has won the highest honor “Sapphire Award” for consecutive years, actively protecting marine ecology and demonstrating the responsibility and commitment of a global shipping leader.

Focusing on digital and intelligent innovation, supporting supply chain coordination

Faced with urgent global supply chain needs for safety, stability, traceability, and digitalization, COSCO SHIPPING Holdings has built a “container shipping + port + related logistics” integrated digital supply chain system, empowering the industry with digital intelligence to promote efficient coordination of the supply chain.

The company leverages technology to improve service quality and efficiency, using AI, big data, IoT, and other technologies to create intelligent customer service, supply chain control towers, and MY REEFER smart cold chain platforms, providing precise services for global customers and domestic fresh food consumption; digital applications such as electronic bills of lading, paperless cargo release, and smart ports facilitate industry collaboration and trade convenience.

The company actively fulfills social responsibilities, continuously investing in education support, ecological protection, rural revitalization, earthquake relief, and overseas community aid, delivering warmth through practical actions and demonstrating the responsibility of a state-owned enterprise. From 2020 to 2024, the company’s total charitable donations amount to about 500 million yuan, with over 60 million yuan in 2023 and over 25 million yuan in 2024.

Centered on “green shipping and digital intelligence empowerment,” the company steadily advances toward the goal of zero carbon. The global digital supply chain has achieved notable results: IBOX smart equipment covers all refrigerated containers, GSBN membership has expanded to 46 members, electronic bill issuance has exceeded 760,000, paperless cargo release has been promoted to 40 ports worldwide, totaling over 4.26 million TEUs, providing solid support for global trade and green low-carbon transformation. Financial data shows that COSCO SHIPPING Holdings’ R&D investment first exceeded 200 million yuan in 2019 and ranked first in the shipping and port industry for the first time. Since then, R&D investment has continued to rise, ranking first in the port industry for seven consecutive years since 2019. During the “14th Five-Year Plan” period (by the end of Q3 2025), the company’s total R&D investment has reached nearly 5.3 billion yuan, close to nine times that of the “13th Five-Year Plan.”

Strengthening governance, safeguarding steady development

Over the past decade, COSCO SHIPPING Holdings has continuously improved its governance structure. Under the dual listing in Shanghai and Hong Kong, it has always regarded excellent governance as the ballast for stable and long-term enterprise development and a booster for strategic realization. The company has deeply embedded ESG concepts into decision-making systems, achieving a leap from compliance to excellence.

The company proactively plans to meet new governance regulations, establishing a four-tier ESG governance system led by the board of directors, executed by management, coordinated by various departments, and supervised by third parties. ESG indicators are incorporated into senior management assessments. Directors further clarify their roles as “strategic formulators,” “supervisors of implementation,” and “guardians of shareholder rights,” transforming institutional advantages into development advantages. Strategic foresight shapes development certainty, effective supervision ensures operational health, and safeguarding shareholder rights enables value sharing.

Since 2021, the company has distributed a total cash dividend of 113.555 billion yuan, ranking among the top in the A-share market. Starting in 2023, COSCO SHIPPING Holdings has implemented four rounds of share repurchases, totaling 866 million A+H shares bought back and canceled, effectively increasing earnings per share and truly benefiting all shareholders for win-win development.

In terms of information disclosure, the company has upgraded from compliance disclosure to in-depth “data + case + results” disclosure, enhancing transparency and gaining recognition from investors and the industry, laying a foundation for rating upgrades. Currently, the company’s ESG rating remains stable and leading in the industry, with Wind ESG rating expected to rise to AA level by 2025; its information disclosure has been awarded the highest A-level rating by the Shanghai Stock Exchange for three consecutive years.

Born at sea, sailing for ten years, setting sail for green and intelligent development

Over the past decade, COSCO SHIPPING Holdings has overcome difficulties and persisted in practical work. Starting from 304 self-operated ships and 1.61 million TEU capacity during the restructuring, through strategic acquisitions and leasing, it has continuously optimized its capacity structure, achieving a dual-brand self-operated and order-held capacity exceeding 5 million TEU, remaining in the top tier globally. It has grown into the world’s fourth-largest container shipping company, becoming a prominent “Chinese business card” in the global shipping map.

As a service-oriented enterprise adhering to a people-centered philosophy, the company always insists on “customer-centric,” continuously optimizing market value management, and boosting investor confidence to share development dividends with shareholders. From October 2021 to May 2023, COSCO SHIPPING Holdings’ shareholders, COSCO Shipping, increased holdings by a total of 4.883 billion yuan; the company has also formulated the “2022–2024 Three-Year Shareholder Dividend Plan” and the “2025–2027 Three-Year Shareholder Dividend Plan” to ensure long-term returns, demonstrating central enterprise responsibility and commitment.

A strong maritime economy is essential for a powerful maritime and shipping nation. Since its establishment, COSCO SHIPPING Holdings has always maintained that employees and the enterprise share the same destiny, progress together, and strives to create a diverse and inclusive work culture, providing equal, harmonious, and safe working environments, building a fair and efficient human resources system, respecting and safeguarding employees’ rights, and continuously improving internal talent management systems. It offers employees diverse development opportunities and platforms, helping them grow, caring for talent with dedication, and building a talent team to promote sustainable personal and corporate talent development.

Standing at the new starting point of the “14th Five-Year Plan,” the company will continue to uphold innovation and integrity, steadily advancing along the main track of global shipping and full-chain services, and bravely leading in green, low-carbon, digital, and intelligent new tracks. It will contribute wisdom and strength to promote high-quality development of China’s shipping industry, serve the country’s high-level opening-up, ensure the stability and smoothness of the global supply chain, and help build a community with a shared future for mankind.