In order to catch up with the fast growing logistics demand in Southern Jiangsu area, COSCO Logistics Co., Ltd., the logistics arm of COSCO Group, recently enhanced its logistics facilities by setting up a joint venture with a local partner named Jiangsu Dagang Co., Ltd.

The new company named Zhenjiang Cosharbour Logistics Co., Ltd. plans to build a 200-acre bonded logistics center to provide high-value added logistics services specialized in chemical industry and electric appliances industry.

On June 26, 2007, a grand establishing ceremony of the new company was held in Zhenjiang City, Jiangsu Province. Capt.Wei Jiafu, President and CEO of COSCO Group, Mr. Zhang Fusheng, Vice President of COSCO Group and government leaders from Zhenjiang City attended the ceremony.