Captain Wei Jiafu, president and CEO of COSCO Group opened up the World Shipping Summit this morning with an upbeat speech where he implored fellow owners to scrap more ships and stop cut throat competition to ensure a return to the ‘golden’ times for shipping. Wei appealed to fellow owners to scrap more ships as well as invest in greener ship designs. … He urged shipping companies to stop fighting against each other, saying, ‘It just hurts everyone. We must stick at the principles of cooperation, reform, innovation, mutual trust and win-win.’
