On July 1, China Ocean Shipping (Group) Company ( "COSCO Group") announced the appointments of the new leadership of the company.
Mr. Ma Zehua is appointed as the Chairman of the Board of COSCO Group. Mr. Li Yunpeng is appointed as the Director of the Board and the President of COSCO Group. Capt. Wei Jiafu is retired and no longer holds any position in COSCO Group.