On May 11, the company successfully completed the maritime registration of the carrier "Lian Yang Hu" , which was officially registered in "Yangpu Port, China". It is the first Hong Kong, China-flagged tanker to be transferred to "Yangpu Port, China" since the release of the overall plan of Hainan Free Trade Port, bringing the number of international carriers registered with "China Yangpu Port" to 37, with a total DWT (deadweight tonnage) of over 5.11 million.

Having been studying and implementing the important instructions of General Secretary Xi Jinping on the construction of Hainan Free Trade Port, COSCO SHIPPING Energy Transportation, based in Hainan and focused in Yangpu, has made important contributions to the development of shipping in the Free Trade Port since 2020 when its subsidiary Hainan COSCO SHIPPING Energy Transportation Co. Ltd. was located in Yangpu Economic Development Zone. Up to now, there are 23 vessels with 4.51 million DWT registered in "Yangpu Port, China"; and Hainan Company controls 22 vessels with 5.5 million DWT through its 100%-owned Hong Kong company, owning and controlling a capacity of 10.1 million DWT. In 2022, Hainan Company completed a total of 57.88 million tonnes of freight and 633.6 billion tonne kilometres of turnover; in Q1, 2023, it completed a total of 16.14 million tonnes of freight and 170.1 billion tonne kilometres of turnover, making an important contribution to local economic development.

It is reported that the total capacity of the global water transport market exceeds 2 billion DWT in 2022. At present, among the top 10 global ship registration places, Panama, Liberia and Marshall Islands ranked the top three; Hong Kong, China ranked the 4th; China's mainland ranked the 7th, with the growth rate of ship registry ranked the second among all ship flag areas with a year-on-year growth of 9.1%.