Posted on 01/25/2002 7:06:45 PM PST by Enemy Of The State
The China Ocean Shipping Group Company (COSCO) and Massachusetts Port Authority of the United States signed a Terminal Services Agreement Thursday that will bring COSCO ships to the Port of Boston, providing a weekly direct service between Asia and Boston. Asia is New England's primary trading partner, and new carrier services must be initiated in order to serve the needs of New England importers and exporters. As of now, Boston's all-water service to Asia is via feeder barges to New York and a feeder vessel to Halifax. Although these services are cost-effective, the total travel time involved makes the service not competitive with direct call cargo routing. Massport's top priority is to secure direct vessel service to Asia as a first inbound port for ships traversing the westbound route via the Suez Canal. China Ocean Shipping(Group) Company is a large conglomerate taking international shipping as its core business. The mission of COSCO Group is to be a world leader in shipping and logistics services by maintaining trustworthy relationships with our customers, employees and partners, yielding best returns for shareholders, society and environment.
President and CEO of the COSCO Wei Jiafu,Senior Vice-President of the Massachusetts Port Authority Michael A. Leone and U.S. Ambassador to China Clark T. Randt attended the signing ceremony.
COSCO has so far opened 13 lines to US ports
Wei told the ceremony that it has been over 20 years since COSCO entered the U.S. market, and COSCO has so far opened 13 lines to bring its ships to the eastern and western ports of the United States.
WTO entry to bring more potential for China-US trade cooperation
Wei expressed belief that now that China has become a member of the World Trade Organization (WTO), there will be more potential for China-U.S. trade cooperation. COSCO is ready to contribute to promoting China-U.S.trade relations and the friendship between the two countries, he said.
To put new life into the Port of Boston
Leone said that the agreement has put new life into the Port of Boston, and it will bring substantial additional container traffic through the port.
Randt extended congratulations to both sides, and said that he hoped that the bilateral cooperation could be further improved by their joint efforts.
The new service will begin March 21, when the first COSCO ship arrives in Boston.
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Like I just said on another thread, that's not something that is going to happen with a COSCO contract in Boston or anywhere else. We need to keep a perspective and keep our facts straight so that we concentrate on what are realistic dangers so that we don't go on wild goose chases after something that won't happen in the real world.
COSCO is a commercial firm with ties to the PLA leadership, but COSCO has no authority to dispatch troops or to conduct military operations for the PLA. They do have a history of intelligence gathering for the PRC and the main problem with COSCO is the triad connections. COSCO has a history of engaging in black market operations, such as smuggling drugs, pirated goods, AK47s, and human trafficking. Here's one example of what we should be concerned about: COSCO CAUGHT SHIPPING 87 POUNDS OF HEROIN
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