COSCO shipping energy announces new appointments, vessel disposals

COSCO Shipping Energy Transportation Company Limited held its fifteenth board meeting of 2025 on November 17, 2025, approving several key resolutions. The board appointed Mr. Xu Wei and Mr. Zhang Lei as new deputy general managers, effective until April 2028. Mr. Xu holds 275,600 stock options, and Mr. Zhang holds 175,800 stock options.

The board also approved the disposal of "Liaoyou 126" and "Liaoyou 128" vessels by its subsidiary, COSCO Shipping Petroleum, through a second-hand ship transfer. These vessels will be listed on the Shanghai United Assets and Equity Exchange at no less than the appraised value.

Furthermore, the board agreed to appoint Ms. Ma Yuanru as a non-executive director, pending approval at the company's third extraordinary general meeting of 2025. Ms. Ma was nominated by China Reform Development Investment Management Co., Ltd., which holds 3.54% of the company's total share capital.