COSCO SHIPPING International Trading Company Limited (“CITC”) became a wholly-owned subsidiary of the Group in December 2008. CITC is principally engaged in trading of asphalt and trading of various vessel spare parts and accessories, as well as other comprehensive trading.

CITC is familiar with the market and the market operations in China Mainland and has abundant experience in international trading and has constant suppliers and stable market share, which generates synergies between COSCO SHIPPING International’s shipping services business, serving an important platform for COSCO SHIPPING International to tap into the domestic markets in China Mainland.