COSCO Jotun Coatings' net profit in 2015 was as high as HK$215 million

According to COSCO International, COSCO Jotun Coatings Co., Ltd., a joint venture with Jotun, Norway, had a net profit of HK$215 million in 2015, a significant increase of 66% year-on-year.

It is reported that in 2015, the company's ship coating sales volume increased compared with 2014, while raw material prices declined, so the gross profit margin of the products improved significantly. In the whole year, the company's total sales of marine coatings reached 83.436 million liters (about 112,600 tons), a year-on-year increase of 31%, of which the sales volume of new shipbuilding coatings was 628.904 million liters, up 31% year-on-year; the sales volume of maintenance coatings was 20,545,600 liters. , an increase of 28% year-on-year.

During the year, a large number of new shipbuilding projects started, and COSCO Jotun seized market opportunities. On the one hand, it strengthened customer visits, actively maintained and consolidated customer relationships with domestic shipyards and major shipowners, and based on market conditions and marketing service needs, Market and target customers, gradually establish differentiated service systems for products, services and marketing; on the other hand, selectively develop markets, strive for high-quality new shipbuilding coating orders and strive to improve the maintenance and coatings business, in order to continue to maintain market share while continuing to maintain market share To further enhance profitability.

At the same time, COSCO Jotun cooperates with the market demand, is committed to upgrading products, promoting ship energy conservation and emission reduction, focusing on HPS (Hull Performance Solution), as well as the ship maintenance concept combined with the promotion of maintenance paint products, combined with the customer's business needs, The customer provided solutions to enable COSCO Jotun to continue to maintain its leading position in the Chinese marine coatings market.

As of the end of 2015, COSCO Jotun's contract for the supply of new shipbuilding coatings was 37.36 million DWT, which is expected to be delivered within the next two years, which provides a guarantee for the stable development of COSCO's future business.