China Navigation charts steady course
While the commoditisation of competitive liner shipping services threatens the stability of ocean carriers, one of the oldest independent British shipping companies continues to navigate towards more promising horizons.
While the commoditisation of competitive liner shipping services threatens the stability of ocean carriers, one of the oldest independent British shipping companies continues to navigate towards more promising horizons.
Established in 1872 as an operator of Mississippi-style paddle steamers along China's Yangtze River, The China Navigation Company (CNCo) has evolved from its humble origins to become a provider of specialised, regional, multipurpose and handysize shipping services.
"Our history over the past 140 years has been closely linked to the development of the economies of the Asia-Pacific region," says Tim Blackburn, managing director.
Headquartered in Singapore - ranked as the top logistics hub in the World Bank's 2012 Logistics Performance Index - CNCo is a subsidiary of Swire, a highly diversified global group.
Swire's marine interests cover a wide range of activities, from liner and dry bulk shipping to the provision of offshore support services to the international oil and gas industry, and from harbour and ocean towage and salvage, to ship repair and shipping agency services.
In addition to the owned and managed fleet, CNCo maintains three operating divisions. Swire Shipping is the company's flagship for liner shipping services; Swire Bulk specialises in operating handysize bulk carriers; and Swire Bulk Logistics provides innovative marine solutions to industrial customers.
With economic growth in Asia forecast to increase seaborne trade volumes steadily over the next few years, CNCo is seeking to develop its network of multi-purpose liner shipping services in the region. In addition to developing specialised shipping solutions in Indonesia, the company is also expanding its regional dry bulk operations following an investment in modern, fuel-efficient handysize bulk carriers.
"Our vision is to be a leading provider of sustainable shipping solutions," Blackburn says. "We are committed to working with our partners and our customers in order to develop business opportunities over the long term."