SteelOrbis Shanghai
Wuhan Iron and Steel Co., Ltd signed a strategic cooperation agreement with Chinese state-owned shipping company China Ocean Shipping Company (COSCO Group) in the city of Wuhan, Hubei Province, on August 22. Under the agreement, both parties will try to strengthen mutual cooperation in the fields of iron ore transportation, shipbuilding plate purchases and logistics distribution, in order to avoid market risks together, control operation costs, and eventually achieve long-term sustainable development.
With operations spread across the world, COSCO Group has a comprehensive shipping capacity which ranks first in China and second in the world, while in terms of earning power the company is the leader in the global shipping industry.