Cosco Group

Cosco Group

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"The China P&I Club, whose members include major Chinese shipping firms Sinotrans and COSCO Group, is the first Chinese maritime insurer to confirm it will halt business with tankers operating in Iran, following similar action in Japan." (Reuters, "Key China insurer to stop covering tankers with Iran oil," 4/5/2013)


"The vessel is owned by Dalian Ocean, a subsidiary of state shipping giant China Ocean Shipping (Group) Company (COSCO). An official at COSCO's general manager's office said she was unaware of the matter and the company's press official was not available for comment... COSCO's chairman Wei Jiafu told Reuters last July, just weeks after the European insurance ban took effect, that the Chinese government could follow Japan's example and provide insurance for Chinese tankers." (Reuters, "Chinese tanker loads Iranian oil, first since July," 4/2/2013)