COSCO Shipping Special Carriers proposes key 2025 initiatives, including fleet expansion

COSCO Shipping Specialized Carriers is seeking shareholder approval for several key proposals at its first extraordinary general meeting in September 2025. Among the initiatives, the company plans to lease four 9,000 DWT special liquid cargo vessels through its wholly-owned subsidiary, Hainan COSCO Shipping Asphalt Transportation Co., Ltd. The 15-year lease will involve an annual rental payment of approximately 14.69 million yuan per vessel, aiming to enhance the fleet's competitiveness and optimize its structure.

Additionally, COSCO Shipping Specialized Carriers intends to appoint BDO China SHU LUN PAN Certified Public Accountants LLP as its auditor for 2025, with an audit fee of 2.87 million yuan. The company also seeks approval for a 2025 financing guarantee limit of up to 3.146 billion yuan for 15 controlled subsidiaries.

Significant governance changes are also on the agenda, including the abolition of the Supervisory Board and revisions to the company's Articles of Association. Furthermore, shareholders will vote on the election of the ninth Board of Directors, comprising five new directors and three independent directors.