Cosco launches Incheon-North Africa used car shipping service
Cosco Shipping Specialised Carriers, the Chinese group’s multipurpose arm, yesterday launched a regular service to ...
Kai Yuan Kou - credit Foton Motor
By Alison Koo
Chinese carmaker Foton Motor has joined compatriot peers in becoming directly involved in shipping its vehicle exports.
China’s corporate registry shows that, last month, Foton set up a joint-venture with Cosco Group’s multi-purpose shipping arm, Cosco Shipping Specialised Carriers, Guangzhou Yuanfu Automotive Supply Chain, 65% owned by CSSC and 35% by Foton.
The JV aims to meet Foton’s target of exporting 200,000 vehicles a year on pure car and truck carriers and in containers, and will also handle shipping vehicle parts to the shipper’s overseas factories.
In 2025, Foton exported 164,500 of international sales of more than 1.25m vehicles across more than 140 countries and regions going back to 2010.
Guangzhou Yuanfu launched operations with the delivery of new LNG dual-fuelled PCTC Kai Yuan Kou, long-term chartered by Cosco from Japanese tonnage provider Santoku Senpaku and dedicated to transporting Foton’s vehicles.
Kai Yuan Kou is now on its maiden voyage carrying 600 Foton trucks to South America.
Foton VP Zhu Youfu said: “Establishing the joint-venture was an inevitable choice as the company’s overseas business reached its current scale.”
This year, China’s commercial vehicle exports are projected to reach 180,000 in a single quarter, a year-on-year increase of 22%. Simultaneously, vehicle manufacturers have been forming partnerships with compatriot shipping groups to be assured of shipping availability.
In Q1 26, Foton exported almost 54,000 vehicles, up 34% on the same period a year ago, and the surging demand for new-energy vehicles has made green logistics a necessity.
Cosco Shipping’s LNG dual-fuelled PCTC fleet is expected to reach 30 ships this year. The establishment of Guangzhou Yuanfu is primarily due to Foton’s need for low-carbon routes to meet increasingly stringent carbon footprint audits in markets such as Europe and Australia.
Catch up with today’s News in Brief podcast, featuring expert insights from Aevean.
Comment on this article