December 8th, 20160Yet more rebranding is underway at China’s largest maritime conglomerate. Cosco’s heavylift division, formerly known as Cosco Shipping Company Limited (Coscol), is now known as Cosco Shipping Specialised Carriers Co. The division has more than 150 ships – a mix of heavylifts, semi-submersibles and roros. Following the merger...
October 17th, 20160Cosco Shipping Ports and Qingdao Port International Development (Hong Kong) have purchased minority stake in a joint venture led by APM Terminals (APMT) that will operate facilities in Vado, northwest Italy. The financial terms of the deal were not disclosed. Cosco and Qingdao PID will own respective shares of 40% and 9.9%,...
August 8th, 20160Cosco (Guangdong) Shipyard has won contracts to built three small containerships for an unnamed European shipping company. The contract price was not disclosed. The three 1,750-teu vessels will be delivered in the second and third quarters 2019, according to an exchange filing from Cosco Corp (Singapore), which owns a 51% stake in the...
July 6th, 20160China Cosco has said it will invest up to €500m ($552m) in Greece's Port of Piraeus over the next five years, according to reports. Investment will be made in Greece's cruise and shipbuilding industries and in developing facilities at the port “to make Piraeus the biggest transit port in the Mediterranean,” China Cosco’s...
June 1st, 20160CMA CGM has ordered four 3,300-teu containerships from Cosco (Zhoushan) Shipyard in China for an undisclosed price. The four vessels are scheduled to be delivered in 2018 between March 31 and August 31, according to a filing today. According to shipping databases, the French container line has five other small boxships on order at...
May 12th, 20160Delivery of a jack-up rig ordered at Cosco Nantong by KS Drilling has been delayed by another 19 months, having previously been scheduled to arrive in April this year. The decision was made "in light of the currently unfavourable oil and gas market climate," KS Drilling said in a filing today. The rig was ordered in May 2011 and is...
March 18th, 20160China Cosco Shipping Corp (Coscocs) and Vale have signed a 27-year agreement in which the Chinese shipping conglomerate will carry 16m tons of iron ore for the Brazilian miner each year. The companies signed the agreement in a ceremony in Beijing on Friday, Coscocs said in a statement today. The contract's value was not...
January 21st, 20160As expected Cosco made an improved offer yesterday to take over Greece’s Piraeus port. The Chinese maritime giant has bid EUR368.5m ($402m) for the port. The board of Greece's privatisation agency (HRADF) have okayed Cosco's offer for a 67% stake in Piraeus port, a move that has proved deeply controversial for local dockworkers who...
January 20th, 20160Ma Zehua has resigned from his positions as the chairman of the board and non-executive director of China Cosco, effective today. He will also no longer be chairman and a member of the board's executive committee, a filing to the Hong Kong stock exchange said. Wan Min, one of China Cosco's non-executive directors, has been...
December 23rd, 20150Cosco Dalian says an Asia-based client has cancelled one of its two 82,000-dwt bulk carriers on order at the Chinese yard and delayed delivery of the other. The unit had originally been scheduled for delivery in the first quarter of 2016 but will now be deleted. The other unit was due to arrive this quarter but delivery has been...
