Mr. LIU Hanbo, the former Deputy Managing Director of COSCO Dalian, has been named the new President of COSCO Americas, Inc. (CAI) and COSCO Container Lines Americas (CCLA). Current President WAN Min is returning to China, taking the post of Managing Director of COSCON in Shanghai.

On July 7, 2011, through a video conference, Mr. GAO Ping, the General Manager of COSCO Group Human Resources Division, announced the appointment of incoming President LIU. Capt. WEI Jiafu, President and CEO, and Mr. ZHANG Fusheng, Executive Vice President of COSCO Group attended the announcement meeting and delivered official statements.

COSCO’s new Americans President comes to CAI with a vast wealth of experience. Mr. Liu graduated with a Bachelor’s degree in Engineering in 1984, and a Master’s degree in Engineering in 2000, both from Dalian Maritime University. In addition, Mr. Liu holds a Senior Economist certificate in China.

Mr. Liu joined Dalian Ocean Shipping Company in 1984. Starting as a cadet crew member, Mr. Liu ultimately served as the General Manager of Dalian Ocean Industry Development Company. In 1996, Mr. Liu was transferred to COSCO headquarters in Beijing to serve as General Manager of the Development Division. He served in this position until he was promoted and transferred to COSCO Hong Kong in February 2000, where he served as Vice President of COSCO Hong Kong and concurrently General Manager of COSCO International Holdings Limited, a public company listed on the Hong Kong Stock Exchange. In September 2006, Mr. Liu was transferred back to COSCO Dalian to serve in his current position as Deputy Managing Director.

The entire COSCO family in the Americas welcomes Mr. Liu and we extend our appreciation to Mr. WAN Min for his leadership and service. Our best wishes for success and prosperity in their new, significant assignments.