COSCO Investment Seeks New Opportunities

Monday, February 12, 2001
COSCO Investment (Singapore) Ltd. is looking at opportunities to invest in the shipping business in China and in Southeast Asia. These opportunities involve "outright purchase or co-investment," COSCO said. It noted that it had already located potential targets and started negotiations with relevant parties in China, but no final agreements have been reached. "It is intended that investments in shipping-related businesses in China will form a very significant part of COSCO Investment's business in the future," it said. The group said it would continue to expand its core dry bulk shipping business, and was close to reaching an agreement to sign contracts to take delivery of another two new ships in April and August. "Freight rates are reasonable at the moment and profit prospects are strong," it added. It said its Internet business unit, COSCO Network, will produce considerable cost savings for the group by enhancing its existing use of telecoms and procurement services. COSCO group companies have also guaranteed most of the anticipated revenue of COSCO Network, it said, adding that its prospects are "promising." - (Reuters)
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Demands for Icebreaker Tours Spiral

Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours.

Teekay LNG Partners Declare Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended September 30, 2015. The

TMS Cardiff Gas Orders First LPG Carriers

TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1283 sec (8 req/sec)