COSCO: In the medium term, there is great uncertainty about the impact of tariffs
On April 15, COSCO Offshore held a presentation on its 2024 annual performance online, and responded to investors' concerns about how to deal with the Sino-US trade war and future development prospects.
In response to how to deal with the Sino-US trade war, COSCO Sea Control said that at present, the tariff policy is complex and changeable, and the United States has imposed tariffs on many countries, resulting in an increase in the cost of imports in the United States and an increase in the wait-and-see mood of American customers.
The company expects that the tariff policy will affect the loading rate of vessels on the trans-Pacific route in the short term, and the impact on the industry remains uncertain in the medium and long term. To this end, it will continue to attach great importance to, pay close attention to, actively respond to, and make timely adjustments.
In addition, for the future development prospects of the industry, COSCO Offshore Control said that the complex and changeable future will still be the main tone of the container shipping industry.
On the one hand, the greater geopolitical influence, the uncertainty of the situation in the Red Sea, and the stronger trade tariff policy have made the structure of global freight flow continue to change deeply. On the other hand, the resilient development of the global economy, the rise of emerging markets and regional economic integration have brought new opportunities to the container shipping market.
Under the above background, COSCO will be guided by the needs of global customers, focus on its positioning of "global digital supply chain operation and investment platform with container shipping as the core", and strive to provide customers with better services and create greater value for shareholders.
For the latest progress and future plans in the field of artificial intelligence, COSCO Sea Control said that it attaches great importance to the application of new technologies and continues to optimize and upgrade existing large models.
In recent years, COSCO has accelerated the transformation of scientific and technological achievements into real productivity by actively integrating emerging technologies such as artificial intelligence, Internet of Things, blockchain, and 5G. Among them, artificial intelligence technology has been widely used in service network planning, green shipping, supply chain control tower, intelligent warehousing, intelligent trailer, intelligent customer service, intelligent box and other systems, and customer demand insight ability and comprehensive service ability have been greatly improved. In the future, COSCO Offshore will continue to tap the potential of new quality productivity, to provide customers with more high-tech, high-quality products and services.
In terms of port development, COSCO Offshore believes that despite the risk of differentiation and uncertainty in the future global economic recovery, China's import and export scale is expected to maintain stable growth with the resilience of the industrial chain, policy support and breakthroughs in emerging areas, and the trade structure is expected to be further optimized, bringing new growth drivers to the port industry.
Based on this, the company will accelerate its global footprint and continue to improve the performance of its existing global network services; Strengthen the construction of channels and upgrade the service level of key hub ports such as CSP Wuhan Terminal, Piraeus Terminal and CSP ABU Dhabi Terminal; Accelerate the intelligent, digital and green transformation of ports, actively promote the development of specifications and standards in the application of unmanned ships, supervision and port energy conservation and emission reduction, and strengthen the competitive advantage of Chinese ports in the field of innovation; Focus on the regions and markets where double brands and Ocean Alliance's capacity focus, and provide supply chain resource node guarantee for high-quality global channel construction through investment or acquisition of upstream and downstream global resources in the industrial chain.
In response to how to deal with the Sino-US trade war, COSCO Sea Control said that at present, the tariff policy is complex and changeable, and the United States has imposed tariffs on many countries, resulting in an increase in the cost of imports in the United States and an increase in the wait-and-see mood of American customers.
The company expects that the tariff policy will affect the loading rate of vessels on the trans-Pacific route in the short term, and the impact on the industry remains uncertain in the medium and long term. To this end, it will continue to attach great importance to, pay close attention to, actively respond to, and make timely adjustments.
In addition, for the future development prospects of the industry, COSCO Offshore Control said that the complex and changeable future will still be the main tone of the container shipping industry.
On the one hand, the greater geopolitical influence, the uncertainty of the situation in the Red Sea, and the stronger trade tariff policy have made the structure of global freight flow continue to change deeply. On the other hand, the resilient development of the global economy, the rise of emerging markets and regional economic integration have brought new opportunities to the container shipping market.
Under the above background, COSCO will be guided by the needs of global customers, focus on its positioning of "global digital supply chain operation and investment platform with container shipping as the core", and strive to provide customers with better services and create greater value for shareholders.
For the latest progress and future plans in the field of artificial intelligence, COSCO Sea Control said that it attaches great importance to the application of new technologies and continues to optimize and upgrade existing large models.
In recent years, COSCO has accelerated the transformation of scientific and technological achievements into real productivity by actively integrating emerging technologies such as artificial intelligence, Internet of Things, blockchain, and 5G. Among them, artificial intelligence technology has been widely used in service network planning, green shipping, supply chain control tower, intelligent warehousing, intelligent trailer, intelligent customer service, intelligent box and other systems, and customer demand insight ability and comprehensive service ability have been greatly improved. In the future, COSCO Offshore will continue to tap the potential of new quality productivity, to provide customers with more high-tech, high-quality products and services.
In terms of port development, COSCO Offshore believes that despite the risk of differentiation and uncertainty in the future global economic recovery, China's import and export scale is expected to maintain stable growth with the resilience of the industrial chain, policy support and breakthroughs in emerging areas, and the trade structure is expected to be further optimized, bringing new growth drivers to the port industry.
Based on this, the company will accelerate its global footprint and continue to improve the performance of its existing global network services; Strengthen the construction of channels and upgrade the service level of key hub ports such as CSP Wuhan Terminal, Piraeus Terminal and CSP ABU Dhabi Terminal; Accelerate the intelligent, digital and green transformation of ports, actively promote the development of specifications and standards in the application of unmanned ships, supervision and port energy conservation and emission reduction, and strengthen the competitive advantage of Chinese ports in the field of innovation; Focus on the regions and markets where double brands and Ocean Alliance's capacity focus, and provide supply chain resource node guarantee for high-quality global channel construction through investment or acquisition of upstream and downstream global resources in the industrial chain.
