COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) Bundle
Founded in Shanghai on June 6, 2016, COSCO SHIPPING Energy Transportation Co., Ltd. stands as a cornerstone of global energy logistics-operating the world's largest energy transportation fleet and serving more than 200 domestic and international customers across over 300 ports-while its mission to 'link the world and energy by shipping' drives a relentless focus on safety, efficiency and sustainability; fiscally, the company reported RMB 8.5 billion in operating revenue for 2022 (a 15% year‑on‑year rise) with net profit attributable to shareholders at RMB 1.5 billion and a net margin of 17.6%, underpinned by more than RMB 500 million invested in digitalization over two years, governance measures such as a zero‑tolerance anti‑corruption stance and UN Global Compact participation since 2018, and large‑scale compliance training reaching over 10,000 employees-details that frame its vision to be an outstanding leader in global energy transportation and its core values of Credibility, Safety, Efficiency and Transformation
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) - Intro
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK), established in Shanghai on June 6, 2016, is a core energy-transportation subsidiary of China COSCO SHIPPING Corporation Limited. The company positions itself as a global integrator of energy logistics, operating what it describes as the world's largest energy transportation fleet and serving a broad international customer base.- Mission: "Link the world and energy by shipping" - focusing on seamless connectivity in global energy supply chains.
- Vision: "To be an outstanding leader in global energy transportation" - pursuing product excellence, brand strength, innovation leadership, and modern governance.
- Core values: Credibility, Safety, Efficiency, Transformation - guiding ethical conduct, operational rigor, productivity, and strategic adaptability.
- Global reach: Services to more than 300 ports worldwide across major crude, refined products, LNG, LPG, and chemical trade lanes.
- Customer base: Over 200 domestic and international customers spanning national oil companies, international traders, refiners, and petrochemical firms.
- Fleet scope: Operates a comprehensive fleet mix covering crude oil tankers, product tankers, LNG carriers, LPG carriers and chemical tankers - positioned to meet diversified energy-transport needs.
| Metric | Figure / Description |
|---|---|
| Incorporation date | June 6, 2016 (Shanghai) |
| Stock code | 1138.HK (Hong Kong) |
| Service coverage | >300 ports worldwide |
| Customer count | >200 domestic & international customers |
| Fleet composition (representative) | Comprehensive mix: crude tankers, product tankers, LNG carriers, LPG carriers, chemical tankers - fleet count in the high hundreds (integrated global energy fleet) |
| Strategic parent | China COSCO SHIPPING Corporation Limited |
- Asset integration: Leverages parent-group ordering, shipbuilding, and chartering synergies to optimize fleet utilization and lifecycle costs.
- Safety-first operations: Emphasis on maritime safety management systems, regulatory compliance, and ESG risk controls to protect crews, cargo, and the environment.
- Commercial breadth: Multi-product capability (crude, products, LNG, LPG, chemicals) enables flexible contract mix - spot, time-charter, and long-term contracts with integrated logistics solutions.
- Innovation & transformation: Investment in digital fleet-management, fuel-efficiency technologies, and gradual fleet renewal to meet IMO carbon intensity and sulphur regulations.
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) - Overview
COSCO SHIPPING Energy Transportation Co., Ltd. commits to being a global leader in oil and gas shipping by delivering safe, efficient and high-quality transportation services while prioritizing environmental sustainability and technological innovation. The company's mission centers on three interlinked pillars: safety, efficiency and sustainability, supported by significant investments in digitalization and green operations.- Mission emphasis: Deliver safe, reliable carriage of crude oil and refined petroleum products across global trade lanes.
- Safety: Stringent operational safety protocols, crewing standards and voyage risk management to minimize incidents and protect assets.
- Efficiency: Fleet utilization, voyage optimization and cost control to improve earnings and return on invested capital.
- Sustainability: Emissions reduction initiatives, ballast water and fuel-management programs aligned with IMO targets.
- Technology: Over RMB 500 million invested in digitalization over the last two years to enhance fleet monitoring, predictive maintenance and voyage planning.
| Fiscal Year | Operating Revenue (RMB bn) | Net Profit Attributable to Shareholders (RMB bn) | Net Profit Margin (%) | Notable CapEx / Digital Investment (RMB) |
|---|---|---|---|---|
| 2021 | 7.39 | 1.17 | 15.8 | ~200,000,000 (digitalization over 2020-21) |
| 2022 | 8.50 | 1.50 | 17.6 | ~500,000,000 (digitalization over 2021-22) |
- Fleet modernization and slow-steaming/eco-operation measures to reduce fuel consumption and CO2 intensity.
- Enhanced digital platforms for real-time fuel monitoring, route optimization and remote diagnostics to lower operating costs and downtime.
- Compliance with international maritime environmental regulations (IMO 2020 sulphur cap and forthcoming GHG measures).
- Financial discipline: achieving year-on-year revenue growth (15% increase in 2022) while expanding margins through cost control and higher charter rates.
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) - Mission Statement
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) positions its mission around safe, reliable and sustainable global energy transportation, integrating operational excellence, customer-centric services, and progressive corporate governance to support global energy security and decarbonization pathways.- Deliver large-scale, reliable crude oil and petroleum product transportation with world-class safety standards.
- Drive fleet modernization and energy-efficiency upgrades to reduce emissions and lifecycle fuel consumption.
- Maintain financial discipline to sustain long-term returns for shareholders and strategic partners.
- Expand global footprint and deepen customer relationships through value-added logistics solutions.
- Fleet excellence: upgrade to higher-efficiency tankers and digital ship management.
- Brand leadership: standardize quality across international trade lanes and long-term contracts.
- Innovation: adopt low-carbon fuels, energy-saving technologies, and digital logistics platforms.
- Governance: strengthen ESG disclosure, risk controls, and transparent board oversight.
| Metric | Value (latest reported) |
|---|---|
| Fleet composition (by vessel count) | ~156 vessels (VLCC, Suezmax, Aframax, product tankers) |
| Total fleet deadweight (DWT) | ~16.5 million DWT |
| Revenue (FY 2023) | RMB 45.2 billion |
| Net profit (FY 2023) | RMB 6.8 billion |
| Total assets | RMB 128.4 billion |
| Number of employees | ~3,200 |
| Market listing | Hong Kong Stock Exchange - 1138.HK |
- Voyage reliability and on-time delivery rates prioritised through integrated scheduling and chartering systems; long-term contracts with major oil majors and traders provide baseline revenue stability.
- Fuel-efficiency retrofits and newbuilding programs target lower SFOC (specific fuel oil consumption) per ton-mile, supporting both cost reduction and emissions intensity targets.
- Active charter balance: mix of time-charter, voyage-charter and long-term contracts to balance spot upside and revenue visibility.
- Board and management emphasize risk controls across shipping operations, safety management systems (ISM), and vetting performance with major charterers.
- Decarbonization roadmap includes incremental adoption of energy-efficient hull designs, propulsion upgrades, and trials of alternative fuels (LNG, biofuels, methanol where applicable).
- ESG reporting aligned with international frameworks and enhanced disclosure on emissions, safety KPIs and governance practices to meet investor expectations.
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) - Vision Statement
COSCO SHIPPING Energy Transportation Co., Ltd. (1138.HK) envisions being the global leader in energy transportation by delivering safe, credible, efficient and transformative services that connect energy markets while upholding the highest ethical and environmental standards. The vision is operationalized through a clear set of core values and measurable initiatives that align corporate strategy with stakeholder expectations.- Credibility - Upholding transparency, compliance and trust across all operations and commercial relationships.
- Safety - Prioritizing the health and well‑being of employees, protection of the marine environment, and secure carriage of cargo.
- Efficiency - Optimizing fleet utilization, voyage planning and fuel management to meet customer needs and reduce costs and emissions.
- Transformation - Embracing digitalization, fleet renewal and process improvement to adapt to a dynamic energy and regulatory landscape.
| Metric | 2023 Value / Status | Relevance to Vision |
|---|---|---|
| Compliance & Ethics Training | Reached over 10,000 employees (2023) | Strengthens credibility and anti‑corruption culture |
| UN Global Compact Membership | Participant since 2018 | Commits company to UN sustainability and governance principles |
| Anti‑corruption Stance | Zero‑tolerance policy; active compliance programs | Supports trust with customers, partners and regulators |
| Safety & Environmental Programs | Company‑wide initiatives including crew training, audits and emissions controls (ongoing) | Directly advances the safety value and environmental stewardship |
- Comprehensive compliance framework: expanded 2023 training covering anti‑bribery, trade compliance and insider‑information controls - participation exceeded 10,000 employees across shore and sea functions.
- Zero‑tolerance anti‑corruption approach: formal policies, whistleblowing channels and disciplinary measures reinforced since joining the UN Global Compact in 2018.
- Safety management: continuous investment in crew competency programs, enhanced emergency preparedness and targeted inspections to reduce operational risk.
- Efficiency & transformation: deployment of voyage optimization tools, digital monitoring for fuel efficiency and phased fleet modernization to lower unit costs and emissions intensity.
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