COSCO shipbuilding unit president to be replaced

COSCO shipbuilding unit president to be replaced The sudden departure on Aug. 7 of COSCO Corp. President Ji Hai Sheng has left many wondering why he was let go, including Ji himself, according to local press reports and Lloyd's List.
   Ji led the Singapore-based shipbuilding, agency and repair unit of China shipping giant COSCO, and wasn't told of the fact that he was retiring (as it was put in a release) until Wednesday, reports in the Straits Times said. Lloyd’s List reported that Ji had only Monday presented the company's first half financial results in 'typically ebullient' character.
   COSCO Corp. reported net profits of $153 million for the first half on turnover of $1.27 billion.
   No successor has yet been named.