Tag: COSCO

  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 ...

The CKYHE Alliance has announced that they will expand their cooperation scope to U.S. Trades

Evergreen Line is to adjust its existing joint service with COSCO as well as contribute vessels to the service currently operated by K Line, MOL and PIL

COSCO Reports Strong Profit Growth

The Board of Directors of COSCO Corporation (Singapore) Limited announced that shipyards have secured contracts valued at approximately USD300 million to build one accommodation barge and seven bulk carriers. Contracts from a European company to build one DP3 accommodation barge scheduled for delivery in 3Q2016 and an Asian company for two (2) 64,000DWT bulk carriers scheduled for delivery in 1H2016. Additionally, the contract under the second option cited in the announcement dated 12 September 2013 to build one 64,000DWT dry bulk carrier for a European company has been rendered effective. The bulk carrier is scheduled for delivery in 2Q2017. Contracts from an Asian company to build two 82,000DWT bulk carriers scheduled for delivery in 4Q2015 and 1Q2016 respectively; and a European company to build two 82,000DWT bulk carriers scheduled for delivery in 2Q2016 and 3Q2016 respectively. Save for their respective shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts. Barring any unforeseen circumstances, the above contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2014. Source: COSCO Corporation  In ...

COSCO Corporation Limited announced that shipyards have secured contracts valued at approximately USD300 million