Tag: COSCO

  Wärtsilä has signed a manufacturing license agreement with COSCO (Weihai) Shipbuilding Marine Technology Company Limited (WECOSCO) based in Weihai, China. The two-way agreement provides COSCO with access to technology and the rights to manufacture the Wärtsilä Aquarius Electro Chlorination (EC) Ballast Water Management System (BWMS) under license for application in their global marine market. In return, Wärtsilä gains access to an additional manufacturing facility able to assist with supply and demand of the Wärtsilä BWMS direct to Wärtsilä customers. The agreement was signed in Weihai on 28th May 2015 and takes effect from 1st June 2015.  Wärtsilä retains ownership of the Aquarius EC technology and all associated Intellectual Property Rights, and will provide technical support to WECOSCO who will manufacture the system under license for applications on ships across the global marine market including COSCO. COSCO operates a number of shipyards in China and has one of the largest shipping fleets in the world. The Aquarius EC BWMS will be supplied with Type Approvals obtained by Wärtsilä and according to both IMO and USCG legislation will be installed not only new ships but also for the significant retrofit market. “This is a landmark agreement forming an important new partnership, ...

LR recently signed a significant contract with COSCO Zhoushan Shipyard in China for the classification of seven new 3,600 teu container ships

  Wärtsilä has developed propulsion systems that are capable of operating with Environmentally Acceptable Lubricants (EALs) and comply with the US Vessel General Permit 2013 (VGP-2013). Wärtsilä is among the first marine propulsion solutions suppliers to achieve this compliance for complete propulsion packages. For vessels operating in US waters, VGP-2013 mandates the use of EALs in all oil-to-sea interfaces unless technically unfeasible. VGP-2013 was issued by the US Environmental Protection Agency (EPA) and is applicable to all vessels sailing in US coastal waters. Wärtsilä began work on developing an effective solution in 2013, working together with numerous EAL suppliers. EALs have since been extensively tested with Wärtsilä steerable thrusters at the Wärtsilä Propulsion Test Centre in Tuusula, Finland. This testing has provided Wärtsilä with a deep technical understanding of the EAL impact on marine propulsion systems. To make the company’s propulsion systems EAL compatible, product modifications have been made to various elements, including the seals, hydraulics and oil monitoring systems. Wärtsilä has acquired detailed specification knowledge of adapting full hydraulic systems to make them EAL compatible, as well as comprehensive experience of the impact of EAL compliance on seals. Wärtsilä has also obtained full intellectual property rights on the newly ...

  China COSCO Holdings Company Limited has announced decommissioning and disposing of fourteen of its vessels. References are made to the announcements of the Company dated 16 January 2014 and 29 January 2015 in relation to, among other things, the resolutions of the board of directors of the Company approving the Company’s implementation plans to decommission and dispose of aged vessels in 2014 and 2015. The Board informed that the Group had disassembled fourteen vessels, including one container vessel (Daqing He) and thirteen bulk carriers (Fenjin Hai, Songshan Hai, Huangshan Hai, Gang Ming, Taishun Hai, Shouning Hai, Taihua Hai, Tiansheng Hai, Yichang Hai, Dongchang Hai, Yi Jia, Dengzhou Hai and Peng Xin) from 1 February 2015 to 31 March 2015. The Vessels, with the aggregate capacity of 924,700 deadweight tons, were disposed of as scrapped vessels to different purchasers, all of which are independent third parties of the Company, at a total consideration of approximately RMB211 million. According to the unaudited financial results of the Company for the month ended 31 March 2015, realised losses incurred from the disassembly of the Vessels amounted to approximately RMB72 million. The decommissioned container vessel was previously owned by COSCO Container Lines Co., Ltd.*, a ...

  China Cosco Holdings Co. is set to order at least 10 container megaships, the Wall Street Journal reports. Triple-E vessels, which can move 19,000 containers each, will be ordered from a Chinese yard and cost around US$1.4 billion in total. When fully loaded, Triple-E's can cut the cost of moving a container across the oceans by around 25% in an industry that carries about 95% of the world's manufactured goods. The ships are intended to be deployed in the Asia-to-Europe trade loop. Sources said that Cosco had so far been reluctant to follow bigger competitors—including the Maersk Line unit of Denmark’s A.P. Møller-Mærsk A/S, and Swiss-based Mediterranean Shipping Co.—that already have a number of such behemoths in their fleet. Japanese shipping company Mitsui O.S.K. Lines, Ltd. has ordered six 20, 000 TEU containerships whereas the French liner company CMA CGM has ordered three 20,600 TEU boxships at Hanjin Heavy Industries.  In the start, I was forthright with you propecia before and after has changed my essence. It has become much more fun, and now I have to run. Just as it is incredible to sit.

Maersk Line signed a new building order for seven 3,600 TEU container vessels

CKYHE Alliance is reorganizing their service network for Asia-North Europe and Asia-Mediterranean trades

The Inauguration of the Expansion of Pier III of COSCO PCT was successfully convened

A decision has been made by the management of COSCO Nantong to discontinue the vessel building contract for Octabuoy hull and the topside module (the “Octabuoy”) secured by the Company’s subsidiary, COSCO Shipyard Co., Ltd. (being a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd) with ATP Oil & Gas (UK) Limited (“ATP UK”). This is expected to result in a one-off charge of approximately S$90 million for the Company for the financial year ended 31 December 2014. The Board of Directors (the “Board”) of COSCO Corporation (Singapore) Limited (the “Company”) refers to its announcements on 9 April 2008, 2 October 2009, 30 May 2011 and 22 July 2014 in relation to  As announced by the Company on 22 July 2014, ATP UK is in company voluntary arrangement (“CVA”) in the United Kingdom. The Board wishes to provide an update of the matter. COSCO Nantong has informed the Company that on 9 December 2014, it has received a notice from the CVA managers of ATP UK acknowledging COSCO Nantong’s total debt claim and on 11 December 2014, COSCO Nantong has received an initial part payment of approximately US$5 million. While COSCO Nantong has been making efforts to find ...