Cosco Shipyard Group exploring changes to its asset structure

Cosco Shipyard Group exploring changes to its asset structure

Cosco Shipyard Group is considering expanding its funding sources and optimising its asset structure, its listed Singapore parent said in a statement today. The Cosco affiliate was forced to issue the release in response to questions from the Singapore Exchange as the stock rose for a sixth straight day.

Cosco Shipyard has suffered a number of cancellations this year and anticipates to report a “significant net loss” in the fourth quarter of this year.

The shipbuilding group has not been earmarked for change in the recently announced merger between Cosco and China Shipping.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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