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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion 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: 0.3294 sec (3 req/sec)