Under the current weak market, China Cosco Holdings Co Ltd （CCHC）, a major state-owned shipping company decides to focus on its business in container and bulk sectors.

CCHC has predicated on a statement issued on this Monday that global economy will continue the trend of“weak recovery, low growth”, meanwhile, factors such as inadequate direct demand, high cost and capital shortage have caused an adverse impact on shipping market.

In the face of these grave challenges, CCHC will develop business by centering on the main line of “to increase the revenue, to control the cost, to lean management and to ensure safety”.

For container shipping sector, CCHC is going to further the optimization of fleet structure and to extend alliance cooperation.

In dry bulk sector, it will stick to the idea of prudent operation and focus on “large customers” at the same time.

CCHC just signed a deal to buy 5 container vessels with deadweight of 14,500 metric tons for $618 million. Moreover, it also ordered 10 VLOC and will charter all of these to Brazilian Vale when completed.