CULINES - Experts & Thought Leaders

CULINES and Antong Holdings held an online ceremony and signed a Framework Agreement on Strategic Cooperation, aiming to further promote the dual circulation development pattern, enhance the long-term cooperation on European and Transpacific services, and integrate the shipping of domestic and foreign trades. Wei Wang (Party Committee Secretary and Chairman of Antong) and Raymond Chen (Chairman & CEO of CULINES) delivered speeches. Jianqiang Lou (Director & CEO of Antong) and Kevin Ding (EVP of CULINES) signed the agreement on behalf of each party. Innovative cooperation pattern Jizhong Yuan (VP of Antong), Xiaofeng Ai (CFO of Antong), Xing Rong (VP & Board Secretary), Yan Zhang (GM of International Department of Antong), Hawk Huang (VP & COO of CULINES), Michael Zhao (GM of Ocean Line Division and Operation Department of CULINES), Robin Wang (GM of Finance of CULINES), Vincent Hu (Deputy Director of President Office of CULINES) attended the ceremony. CULINES launched and operated European and Transpacific services with the pooled resources In 2021, against the backdrop of national policies on dual circulation and stability and security in key areas, in an innovative cooperation pattern, CULINES launched and operated European and Transpacific services with the pooled resources of the two parties. The cooperation not only made great economic and social benefits but also promoted the development of China’s foreign trade and enhanced China’s independence of the supply chain. International shipping networks This extended 3-year strategic cooperation will further integrate domestic and international shipping networks in the context of dual circulation development patterns and unleash greater potential for future cooperation and development. As the No.4 and No.5 container liners in terms of capacity based in the Chinese mainland, CULINES and Antong will leverage their respective strengths in domestic and international trades to build up an integrated shipping network and a mutually beneficial cooperation mechanism. Also, the cooperation will increase the resilience to industrial cycles and business risks of both parties in the post-pandemic era and set an example of a close partnership between China-based shipping companies. Going forward, CULINES will continue to be responsible for the overall operation of the cooperated European and Transpacific services. Increasing customer demands CULINES has successfully upgraded the South China-USWC TPC service With the secured and competitive capacity supply of this long-term cooperation, the ocean-going services will be progressively upgraded to meet increasing customer demands, improve customer experience, and create more values for customers. Based on the confirmed long-term cooperation agreement, CULINES has successfully upgraded the South China-USWC TPC service, which features security in terms of fleet, schedule, berthing window, rotation, and customer base with long-term contracts. With the support of partners such as YICT and TraPac, CULINES is confident to reduce uncertainties of the supply chain in the Transpacific market as much as possible and develop TPC into a reliable premium service, providing an alternative for foreign-trade and e-commerce customers. Strategic investment in shipping logistics In Europe, with regular callings at base ports and Southampton and a partner carrier joined, the bi-weekly AEX service is running well. Thanks to the flexibility of the fleet, this service has maintained an excellent record in berthing and turnover and won market recognition, becoming a valuable supplement to mainstream Asia-Europe services. Moreover, both parties will actively explore more cooperation opportunities on coordinated development and strategic investment in shipping logistics and other areas.

CULINES and Antong Holdings Co., Ltd signed a framework agreement on capital investment cooperation at the head office of Guangzhou Port Group. Mr. Yibo Li, president of Guangzhou Port Group, Mr. Jianqiang Lou, president of Antong Holdings Co., Ltd, and Mr. Raymond Chen, president, and CEO of CULINES, jointly attended and witnessed the signing ceremony. Mr. Chaoyang Guo and Mr. Kevin Ding, executive vice president of CULINES signed the capital investment cooperation framework agreement on behalf of both parties. Deepening capital market cooperation In 2021, CULINES and Antong Holdings Co., Ltd actively reacted to the call for both domestic and global trade double circulation in China and the supply chain of six stabilities and six guarantees. In order to carry out strategic cooperation, they jointly deployed 12 4250TEU container vessels in Trans-Pacific and European services. Two sides will invest in shipping and logistics-related areas and explore all other capital investment opportunities It further deepens investment cooperation in the capital market to expand collaborating areas between the two parties after signing the Framework Agreement on Strategic Cooperation on May 31st this year based on the existing consolidated good relationship. According to the agreement, the two sides will invest in shipping and logistics-related areas synergistically, and explore all other capital investment opportunities to strengthen the depth and breadth of the cooperation. Working together and meeting market challenges In the near future, the two parties will comprehensively express their cost-saving and professionalism under a cooperation framework to resist market fluctuations and challenges. Meanwhile, they will constantly polish and upgrade to make more detailed, small, and beautiful products in the big market for customers to create value and bring them the ultimate experience. Maritime development The cooperation will also provide a great opportunity for them to superimpose innovation and differences and to establish their own independent product advantages in the upcoming cycle and balance in the shipping industry. In the future, the two sides will continue to focus on domestic circulation as the main body, and establish domestic and international dual circulation so as to promote a new pattern of maritime development interactively. They will also work as a whole to persistently provide better and more efficient services to customers.

“CUL LAEMCHABANG”, the finale of CULINES’ 4 1930TEU container newbuildings was successfully named and delivered at CSSC Whampoa Wenchong Shipyard Guangzhou South Salon point factory. Ms. Lixin Han, the doctoral supervisor CEO from DLMU, named and cut the ribbon for the new building as the godmother. Attendees  Professor Minqiang Xu, the deputy secretary of the Party Committee from DLMU, Mr. Jianqiang Lou, president of Antong Holdings Co., Ltd, Mr. Bing Luo, CEO of CSSC Huangpu Wenchong Shipbuilding Company Limited and Mr. Raymond Chen, president & CEO of CULINES attended the ceremony jointly and delivered the speech. Mr. Lingtang Zheng, the vice general manager of Guangzhou Port Group, Mr. Keng Chen, vice president and the general manager of the Southern Region of Norwegian Classification Society Group, Mr. Yiyu Zhang, president of Linktrans Logistics Co., Ltd, Mt. Yu Yang, CEO of ship and sea business dept. from CSTC and Mr. Kevin Ding, executive vice president of CULINES and all relevant leaders jointly witnessed the signing of ship delivery documentation. A successful conclusion of CULINES’ 1930TEU project The 1930TEU series container vessels are the breakthrough of CULINES’ newbuildings The smooth delivery of “CUL LAEM CHABANG” successfully concluded the project of 4 1930TEU container newbuildings that CSSC Huangpu Wenchong Shipbuilding Company Limited built for CULINES. The 1930TEU series container vessels are the breakthrough of CULINES’ newbuildings. The delivered “CUL NANSHA”, “CUL YANGPU” and “CUL BANGKOK” have well expressed the high quality of CSSC and elegant spirit of CULINES on their sailings in Thai, Vietnamese and Mediterranean areas, and “CUL LAEM CHABANG” is then planned to be delivered into South East Asia and East Med services. Vessel quality and high building efficiency CSSC has made great efforts during the construction of 1930TEU series newbuildings to overcome the delay of goods’ arrival caused by the epidemic and well-guaranteed vessel quality and high building efficiency. The construction period lasted 15 months in total, dating from July 1st, 2021 to September 21st, 2022. The delivery time of the 4 vessels is significantly earlier than that expected with an average of five and a half for each, which comprehensively embodied the advantage of CSSC being the leading company in the container vessel construction field.  Capacity optimisation and cost advantages  CULINES will develop further in capacity allocation, innovation, and diversity supported by the capital market With the delivery of 1930TEU series vessels, the proportion of CULINES’ self-owned shipping capacity increased to 18% and charter hire from the market will decrease to 20% coupled with Antong Holdings’ cooperation. In the face of market fluctuation, the participation of 1930TEU series vessels will further optimise the capacity structure of CULINES and is instrumental in cost-saving advantages. It will better react to market cycles and uncertainties that benefited from more flexible service lane products. It is believed that CULINES will develop further in capacity allocation, innovation, and diversity supported by the capital market to provide services to customers with higher quality and efficiency in the future. Direct donation to DLMU A good fleet needs good crews. DMLU, for example, as representative of the college of marine studies, has provided high-quality crews and shipping talents to the country. Crews are also one of the groups that need to be focused on and respected in an epidemic environment. CULINES is an enterprise that thinks highly of ESG and always insists to create values and contribute to society. Therefore, CULINES officially launched the directional donation to DLMU proposing to start with 1 million Yuan and buildup gradually. Maritime university  It is also a great opportunity for CULINES to show its gratitude to all crews and active support of DLMU’s “double first-class” and “world-class maritime university” construction. This includes but is not limited to maritime education, crew training, scientific research, talent introduction and cultivation, discipline construction, cultural construction, and campus infrastructure construction, etc, which will jointly contribute to the development of the shipping industry. Mr. Kevin Ding, the executive vice president, Mr. Xinyu Yang, director of the office of alumni affairs and cooperation from DLMU, Mr. Raymond Chen, the president and CEO of CULINES and Mr. Minqiang Xu, the deputy secretary of the Party Committee from DLMU, etc, jointly witnessed the signing ceremony.