Cosco Archives — Page 2 of 2 — City Business News

April 24, 2018 No Responses

Gas Leak Kills Two on Board COSCO Bulker

Two crewmen died and another one sustained injuries in an incident caused by a gas leak aboard Feng Hui Hai near India’s Navlakhi Port on April 22. The 63,300 dwt bulker, loaded with coal, was en route from Indonesia to...

April 1, 2018 No Responses

COSCO Shipping Declares $423.3m Profit In 2017

China’s major COSCO Shipping Holdings delivered improved earnings in 2017 on the back of a broad economic recovery globally and increasing demand for container shipping services. The company informed that profit attributable to its equity holders for the ye...

October 29, 2017 No Responses

Cosco shipping ports generates $155.5m revenue in Q3

China-based Cosco Shipping Ports Limited delivered improved earnings, accompanied by greater volumes in the third quarter of 2017, driven by the growth of international trade. Amid improvement in international trade, and the support from shipping alliances ...

September 29, 2017 No Responses

COSCO shipyard secures orders for 10 new ships

COSCO Shipyard Group, part of COSCO Shipping International (Singapore), has, through its subsidiaries, won contracts for up to ten new ships if all options are exercised. These include a contract for four 82,000 tons bulk carriers secured by COSCO (Zhoushan) ...

September 12, 2017 No Responses

Cosco to acquire 76% stake of APMT Zeebrugge Terminal

Dutch container terminal operator APM Terminals has reached a deal to sell its 76% share in the APM Terminals Zeebrugge container terminal to COSCO SHIPPING Ports. Under the agreement signed between APM Terminals and the Hong Kong-based subsidiary of China C...

August 30, 2017 No Responses

COSCO Shipping records $26.3m profit in six months

COSCO Shipping International (Hong Kong) Limited witnessed a rise in its earnings during the first half of 2017, driven by long-awaited signs of recovery in the shipping industry. For the six months ended 30th June 2017, the group’s profit...

July 20, 2017 No Responses

COSCO forecasts 50 % drop in profit

Hong Kong-listed COSCO Shipping Energy Transportation forecasts a drop in profit for the first six months of this year of up to 57 percent year-on-year. Specifically, the group’s net profit attributable to the equity holders is expected to range between...

June 26, 2017 No Responses

COSCO votes $1.7B on 14 ULCVs

China COSCO Shipping Corp has embarked on a major shopping spree, adding 14 ultra large containership newbuilds to its fleet. The investment comes as the company targets routes from Asia to Europe prompted by new free trade deals, as informed by the China.....

May 11, 2017 No Responses

Port of Virginia hosts COSCO Development

The Port of Virginia welcomed on May 8 COSCO Development, the largest containership to call this port and the US East Coast. The 13,092 TEU boxship breaks the previous record held by the 10,000 MOL Benefactor when it sailed to Norfolk International Termin...

May 8, 2017 No Responses

COSCO Shipping to sell stake in shipyard assets

COSCO Shipping International (Singapore) has decided to sell equity interest in its shipyard assets for a price of CNY 1.46 billion (USD 211.5 million) to COSCO Shipping Heavy Industry. In an effort to centralize operations and management, the company said i...

March 31, 2017 No Responses

No dividend for shareholders as COSCO Shipping posts 1.4b loss in 2016

Shanghai-listed COSCO Shipping Holdings Company, a unit of China Cosco Shipping Corporation Limited (Cosco Shipping), has reported a loss of $1.4 billion in its annual report for 2016. As a result the company proposed that no dividend is distributed this...

February 28, 2017 No Responses

COSCO posts $695m loss in 2016, records 22.6 % drop in shipping, others

(WMN) COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, saw a net loss of SGD 976.1 million (USD 695.5 million) in 2016, against a net loss of SGD 914.8 million (USD 651.8 million) recorded in 2015,...

January 5, 2017 No Responses

Cosco Shipping, FAW seal vehicle transportation partnership

China Cosco Shipping Group (Coscocs) has entered into a strategic agreement with Chinese state-owned automaker FAW Group for the transportation of vehicles and components. Under the agreement, signed on January 3 in Shanghai, the parties also plan to strength...