Government News
COSCO Shipping doubling car transport capacity from Shanghai to Persian Gulf 2022-11-27
3,053 units of domestically made vehicles are ready to be exported from Lianyungang port, East China's Jiangsu Province.
COSCO Shipping Car Carriers Co's ocean transport route from Shanghai to the Persian Gulf entered operation, as an auto carrier loaded with China-made vehicles departed on Saturday, the company said.
The auto carrier will arrive at Dubai's Jebel Ali Port and Saudi Arabia's Dammam Port in 17 days, carrying 3,859 vehicles. Two auto carriers will operate on the route each month which will double the company's current transport capacity.
Chinese auto sales in Middle East including Saudi Arabia and United Arab Emirates reached about 200,000 in 2021, with sales volume in the first half of 2022 reaching 150,000 units in the region, the company said.
In order to meet surging demand in overseas markets, Chinese auto makers has been expanding their investment in auto export supply chains and purchasing auto carriers to ship finished vehicles.
According to China COSCO Shipping Corporation's (COSCO Shipping) official website, COSCO Shipping Car Carriers Co is a joint venture established by COSCO Shipping Specialized Carriers Co, Shanghai International Port Group Logistics Co and SAIC Anji Logistics Co in August 2022.
SAIC Motor has signed an agreement with China State Shipbuilding Corporation (CSSC) on January 17 with CSSC Jiangnan Shipyard to build two LNG dual fuel and low carbon ro-ro (rolling-on/rolling off) vessels for SAIC Anji Logistics Co, a wholly-owned subsidiary of SAIC Motor specializing in auto logistics business, according to a statement sent to the Global Times by SAIC Motor in October.
Meanwhile, leading Chinese electric carmaker BYD has reportedly booked up to eight 7700 CEU dual fuel LNG Pure Car Truck Carrier with advanced talks being held with three domestic shipyards, China Shipping Gazette reported in July.
COSCO Shipping Car Carriers Co said that the company will initiate more shipbuilding projects in the second half of 2024. Over 15 auto carriers with capacities of 7,000 to 8,600 vehicles will be built, to cover market supplies in Europe, South America, the Red Sea region, Mexico and Australia.
China's auto exports have been growing at a rapid pace since 2021. According to data from China Association of Automobile Manufacturers (CAAM), China exported 2.02 million vehicles in 2021, increasing by 101.1 percent year-on-year.
In the first 10 months of 2022, export volume of Chinese auto manufacturing enterprises recorded at 2.46 million vehicles, increased by 54.1 percent year-on-year. Export volume for new-energy vehicles reached 499,000, or rising nearly 100 percent from the corresponding period last year.
Source: Global Times
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