On April 28, COSCO SHIPPING Lines (Saudi Arabia) Co., Ltd. (hereinafter referred to as COSCO SHIPPING Lines Saudi Arabia) held an unveiling ceremony in Dammam, Saudi Arabia. Zhang Yong, Vice President of COSCO SHIPPING Group, Abdullah Munif, Vice Chairman of Saudi Ports Authority, Tian Dong, Chairman of COSCO SHIPPING West Asia Company, Cen Wei, General Manager of COSCO SHIPPING Lines Saudi Arabia, and representatives of the joint venture jointly witnessed the establishment of the new company.
Saudi Arabia is a core member of the Gulf Cooperation Council and the Organization of Islamic Cooperation, and is China’s largest trading partner in the Middle East and North Africa. The bilateral trade volume has exceeded US$100 billion for two consecutive years. The economic and trade complementarity between China and Saudi Arabia is strong, and the potential for cooperation between the two sides is huge.
Saudi Arabia is one of the important markets for COSCO SHIPPING to deepen its overseas presence, and the establishment of COSCO SHIPPING Lines (Saudi Arabia) is a milestone. In the future, COSCO SHIPPING Lines will leverage its professional advantages and actively utilize the terminal resources invested by the port company in Jeddah Port and the railway terminal project to be built by the West Asia company in Jubail Industrial City to better serve the fleets of various professional companies under COSCO Shipping. By deploying the group’s global logistics resources, it will establish an integrated logistics service including “sea transportation-customs clearance-land transportation-warehousing”.