Cosco Shipping Bulk has set up a representative office in Geneva in yet another example of major bulker owners expanding their presence in the grains trading hub.
According to various Chinese media reports, the office, which opened on 26 November, is state-owned China Cosco Shipping’s first branch in Switzerland.
The Cosco group of business is hoping to enhance its cooperation with the Swiss business community as part of its global business strategy, Cosco Shipping Bulk’s chairman Huang Xiaowen said during the office’s opening ceremony.
An email seeking comments from Cosco has not been answered at the time of writing.
Cosco Shipping Bulk- a non-listed unit of China Cosco Shipping - operates more than 400 bulk carriers with a total carrying capacity of over 36.5 million dwt, according to its website.
Geneva is where commodities trading giants like Cargill run their European operations.
Cofco International, the trading arm of Chinese grains giant Cofco, is headquartered in Geneva.
Two years ago, Star Bulk Carriers established Star Logistics Management in Geneva to focus on grains charters for kamsarmaxes and geared ships.
In the ceremony, Cofco International chief operating office Yang Hong said her company would be in a better position to communicate with Cosco Shipping Bulk due to the new office.
In 2017, Cosco Shipping Bulk and Cofco International sealed a strategic cooperation agreement to work on more contracts of affreightment, exchange of market intelligence, containerised cotton shipping and other logistics matters.
