Parent Company Raises RMB 5.1 Billion to Strengthen CS Tanker Fleet Capacity

China COSCO Shipping Corporation Limited completed the non-public issuance of 730,659,024 A shares, raising RMB 5.1 billion. This successful contra-cyclical, low-cost capacity expansion strengthened CS Tanker's fleet investment capability and long-term tanker transportation strategy.

Contra-Cyclical Strategy

The capital raise was executed during a period of market weakness — a deliberate contra-cyclical strategy that enabled CS Tanker to invest in fleet expansion at low cost. This approach reflects the long-term perspective of China COSCO Shipping Corporation Limited and its commitment to building CS Tanker's fleet capacity for the long term.

Fleet Investment Impact

The RMB 5.1 billion raised has been deployed to fund newbuilding orders and fleet acquisitions, expanding CS Tanker's capacity across crude oil tankers, LNG carriers, and product tankers. The investment has positioned CS Tanker to capture the benefits of the subsequent market recovery.