COSCO Pacific Reports Profit Increase

Friday, March 31, 2000
COSCO Pacific Ltd. reported its net profit rose 3.7 percent in 1999 from a year earlier to $134.08 million and added that it would step up investment in 2000. The company, an indirect unit of China's largest shipping firm China Ocean Shipping (Group) Co., engages mainly in container leasing and container terminal operation. Managing director Shi Qin said the listed firm planned to spend about $100 million to $110 million to buy containers in 2000 to match the rise in demand caused by global economic growth. The sum almost doubles the $57 million the firm spent in buying containers in 1999, when the size of its container fleet dropped 1.0 percent to 500,899 teu.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dometic to Debut New Product Line at Workboat

New products on display will include the Dometic Cup Cooler, the Smart Touch Integrated Intelligence Control system and the Dometic Sea Xchange watermakers; attendees

Insights: Morton S. Bouchard III

Insights: Morton S. Bouchard  III - President and CEO, Bouchard Transportation Co., Inc. When it comes to iconic, East Coast mainstays of the U.S. maritime industry,

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

Finance

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1386 sec (7 req/sec)