China Cosco Shipping not signing LOI with China’s maritime university students

China’s biggest merger Cosco and China Shipping Group which is the world’s largest shipping company China Cosco Shipping (CoscoCS) has notified hundreds of China’s maritime university students who had signed letters of intent (LOIs) a month ago that it will not be signing their contracts. Dalian Maritime University (DMU) and Shanghai Maritime University (SMU) has been informed that CoscoCS will not be taking cadets this year. CoscoCS was taking several hundred maritime students each year for training and service onboard their vessels. Sinocrew managing director Captain Wang Jixuan raised the question of cost-cutting and training on Wednesday at Bimco’s annual conference in Shanghai, where he did not mention the CoscoCS move but, in general terms, challenged a shipowner panel on whether they are endangering ships, lives and the environment by cutting their crewing and training expenditures.