CHINA Shipping Development has revealed its 2013 operating report, according to which the company will seek to "change" and "innovate" this year to enhance its core competitive strength, Xinhua reports.

The company will follow the trend of upsizing ships to optimise its fleet. They currently have 40 ships that are more than 20 years old, totalling 1.3 million tonnes in capacity, and will dispose of those that are smaller in tonnage, higher in energy consumption and weaker in competitiveness.

This year, China Shipping Development will add 20 ships totalling 1.92 million tonnes to its fleet, including two oil tankers totalling 430,000 tonnes, 18 bulk carriers totalling 1.49 million tonnes. The full year capacity in use will be 18.06 million dead weight tonnes, up 5.7 per cent from the past year.

In 2014, the company aims to achieve a turnover of 519.2 billion tonnes per nautical mile, up 26.2 per cent, and operating revenue of CNY14.33 billion (US$2.31 billion), up 25.8 per cent. It also aims to control its operating cost under CNY12.69 billion, up 12.7 per cent.