Swire Group’s shipping arm China Navigation Company establishes presence in Shanghai where it was founded 147 years ago!
The China Navigation Company (CNCo) opened its China headquarters officially in Shanghai on 05 November 2018, marking a significant return to its birthplace 147 years ago, and a significant milestone in its history, said a press release from the company.
CNCo started operations on the Yangtze River in 1872, operating a modest fleet of Mississippi-style paddle steamers.
CNCo is a major global player in the shipping scene today, with operations spanning Australia, China, PNG, Fiji, India, New Zealand and the US. Headquartered in Singapore, CNCo owns and manages more than 130 vessels through its three core divisions – Swire Shipping, Swire Bulk and Swire Bulk Logistics.
With the rise of China as a major player in the shipbuilding industry, CNCo has built strong partnerships with key Chinese shipbuilders.
James Woodrow, Managing Director of CNCo, said, “Shipping markets have come to depend heavily on China and we believe the shipping industry will continue to be greatly influenced by China.
While China generates demand, it also creates supply. "China’s growth as a major player in the shipbuilding industry has truly been remarkable. The partnerships we have established with key Chinese shipbuilders is testimony of this growth. We have since built 37 vessels in China and have eight feeder container vessels to be built at the China State Shipbuilding Corporation’s Wenchong shipyard for delivery in 2019/20," he added.
"We will continue to assess modern and fuel-efficient designs to provide an industry-leading product to our customers in China far into the future,” Woodrow said.
The opening ceremony was officiated by Barnaby Swire, outgoing Chairman of CNCo, incoming Chairman Samuel (Sam) Swire, James Woodrow, Managing Director of CNCo, and other members of the Board of Directors.
Said Randy Selvaratnam, Country Manager: “With our Shanghai office now being a full-fledged operating subsidiary as well as our other offices in Qingdao, Beijing and Guangzhou, we are even more confident of delivering innovative and sustainable shipping solutions that will meet the needs of our customers. Currently, we offer four separate services from China covering the South Pacific Islands, New Zealand, and North Australia trades.”
The Shanghai office houses the Swire Shipping and Swire Bulk divisions. The office is located in the HKRI Taikoo Hui building, a mixed-use development by Swire Properties situated within Jing’an District, a key commercial and financial sector of Shanghai.
