COSCO Shipping and bp officially entered into a Memorandum of Understanding (MoU) in Shanghai, marking a significant step towards strategic cooperation. The agreement aims to leverage the strengths of both entities, fostering synergies, complementary advantages, and shared development. By expanding their collaborative efforts, the two parties intend to explore new avenues of cooperation, with a particular focus on Castrol marine lubricants, hydrocarbons transportation, offshore construction, and potential partnerships in methanol supply for bunkering and the offshore wind supply chain.
The signing ceremony was witnessed by William Lin, bp Group Executive Vice President, and Lin Ji, Executive Vice President of COSCO Shipping. Representing the two companies, Simon Yang, bp Group Senior Vice President, and bp China President, along with Chen Wei, Deputy Head of the Operations Division of COSCO Shipping, inked the strategic cooperation memorandum.
Prior to the formal signing, both parties took the opportunity to review their existing collaborative efforts and anticipate the future trajectory of their partnership.
With a presence in China dating back to the early 1970s, bp stands as one of the prominent foreign-invested companies in China’s energy industry. The enduring collaboration between bp and COSCO Shipping encompasses various sectors, including the transportation of energy products, offshore equipment manufacturing services, and the supply of marine fuels and lubricants.
