Cosco Shipping
A COSCO container is seen at the Noatum container terminal near Bilboa, in Santurtzi, Spain. Reuters

Cosco Shipping, a provider of ship building and marine engineering services, on Tuesday appointed Wang Kang Tian as the chief financial offer, effective immediately.

Wang would replace acting CFO Liang Jianfeng, who took over the position in May this year. The 40-year-old was a general manager (finance division) at China Shipping Regional Holdings from February 2010 to November 2012.

Wang, 51, is currently the chief accountant and a member of Communist Party of China Party committe of Cosco Shipping Southeast Asia.

Shares in Cosco Shipping jumped as much as 11 percent to a record high of S$0.61 on Tuesday amidst huge volumes.

Its shares ended up 7 percent at S$0.58 on the Singapore Exchange on Tuesday. The benchmark Straits Times index was down 0.6 percent.