Wei Jiafu, chairman of Cosco Group, the world’s fourth-largest container line by capacity and the largest carrier based in China, will be the opening keynote speaker at the 12th annual Journal of Commerce Trans-Pacific Maritime container shipping conference, The Journal of Commerce announced.
Cosco has been one of the world’s fastest-growing carriers in recent years, benefiting from the enormous growth of China’s exports to hold 4.2 percent of the world’s share of container shipping capacity, according to industry analysts Alphaliner.
Wei, 61, was recently named chairman of China Cosco Group after serving as CEO during a period when the carrier sharply scaled up its profile in international supply chains.
The carrier is also the world’s third-largest carrier of bulk commodities with its diversified fleet of container and bulk vessels.
Cosco was the 10th largest carrier of containerized imports into the United States in the first half of 2011, with 344,444 20-foot equivalents. The volume was only marginally ahead of 2010 volume in the first six months of the year, but Cosco's volume in the first half of 2010 expanded more than 59 percent from the same period the year before, the sharpest turnaround from the downturn among the top 15 import carriers into the United States.
The TPM event, which takes place March 5-6, 2012 at the beginning of the annual trans-Pacific contract negotiating cycle, is the most important annual gathering for shippers, carriers, 3Pls, terminals, railroads and other players in the trans-Pacific ocean container supply chain.