American Shipper

NEW COST CONTROLS REAP SAVINGS AT COSCO

NEW COST CONTROLS REAP SAVINGS AT COSCO

   The China Ocean Shipping Co. group said that its subsidiary COSCO
Guangzhou has saved on port expenses following the introduction of new methods of cost
control.
   In the first half of this year, COSCO Guangzhou arranged a total of 441
voyages and paid an average of 95,800 yuan ($11,600) for each port call, 4,200 yuan ($500)
below the budget set by the head office, COSCO said.
   COSCO Guanzhou introduced new "on-the-spot auditing" procedures for
port expenditures that replace the previous method of first paying and then auditing the
expenses, the Chinese carrier said.