Zhao Bangtao, general manager of Cosco Shipping Shanghai said that it established the new ship repair base is part of the company’s business consolidation and optimisation plan. He said it would improve the company’s integrated service capability and efficiency.

The company started the construction of the ship repair yard in Liuhengdao, Zhoushan in December 2018.

Cosco Shipping Shanghai is a regional company of Cosco Shipping Group, focusing on liquid chemical products transportation and storage. The company will also work with Cosco Shipping Energy Transportation to expand cooperation for the new ship repair yard.

Zhoushan is one of the leading ship repair bases in China. The yards in Zhoushan repaired around 2,000 ships last year, accounting for 20% of the nation’s total ship repair volume.