Cargo Shipping Market to Grow at 3.45% to 2023
Global Cargo Shipping Market is expected to grow around 3.45% CAGR during the period 2017 to 2023, says a report by Market Research Future. In recent years, Global Cargo Shipping Market has advanced rather productively. While, increasing number of countries forging of free trade agreements like ASEAN Free Trade Area (AFTA), Trans-Pacific Strategic Economic Partnership (TPSEP) and North American Free Trade Agreement (NAFTA) will boost the growth of cargo shipping market further. In addition, the market is gaining momentum with initiatives such as the One Belt, One Road, as well as the expanded Panama Canal and Suez Canal are expected to positively affect the seaborne trade by generating business opportunities. The key players of the Global Cargo Shipping Market are A.P.
Sino-Global Shipping Enters Agreement With COSCO
Sino-Global Shipping America, a non-asset based global shipping and freight logistic integrated solution provider, has announced the signing of an Inland Transportation Agreement with COSCO Beijing International Freight Co in which COSFRE Beijing will utilize the Company's full-service logistics platform to arrange for the transport of its container shipments into US ports. In addition to the Agreement with COSCO Beijing, the Company has entered into a Strategic Cooperation Framework Agreement with Sinotrans Guangxi, a subsidiary of Sinotrans Limited. Pursuant to the Agreement with COSFRE Beijing, Sino-Global will receive a percentage…
Cosco Pacific Appoints Zhang Wei as Vice Chairman
Cosco Pacific Ltd. has appointed Zhang Wei as vice chairman and managing director, replacing Qiu Jinguang who has stepped down from the positions with immediate effect, reports Dow Jones. "Qiu Jinguang has resigned as an Executive Director, the Vice Chairman and Managing Director and also resigned as an authorised representative as well as the Chairman of the Executive Committee, the Investment and Strategic Planning Committee and the Risk Management Committee, and a member of the Nomination Committee and the Remuneration Committee due to work commitments, with effect from today (April 27)," says a statement from the company. Zhang, who is 42 years old and joined the Cosco Group in 1995, is currently holding directorships at certain units of China Ocean Shipping (Group) Co.
China Cosco President Resigns
China COSCO Holdings Company president Jiang Lijun has resigned from his position. Jiang Lijun will cease to be a member of the strategy and development committee and nomination committee of the Company upon his resignation taking effect. Jiang Lijun’s resignation was because he has reached the retirement age. The Board would like to take this opportunity to express its sincere gratitude to Jiang Lijun for his significant contribution towards the Company in the past. Jiang Lijun confirmed that he has no disagreement with the Board, and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.
No Tianjin Impact, Says Cosco
China COSCO Holdings Company Limited says its operations at Tianjin port have been unaffected by the blasts that killed 114 people here also put a deep dent in the compact between China’s government and its middle class. "Our assets have not been materially affected. Our vessels at the anchorages close to Tianjin Port were not affected by the incident and the ships and crews are safe," says a stock market announcement from the company. There has however been some damage to land-based assets and some disruption of operations, although Cosco does not expect that to have any significant impact. "The shapes of some containers (which are non-dangerous containers) were spoiled and a few employees were slightly injured.
China COSCO Turns its Financial Ship Around in 2013
China COSCO Holdings Co. Ltd, the country's largest shipper, indicates a profit turnaround in 2013 after suffering heavy losses for two consecutive years, reports Xinhau. According to COSCO's earlier, 2013, financial report, the Shanghai-listed company made cutting operational costs a major task for 2013. The Group carried out various measures to overcome the difficulties, including the disposal of its interest in COSCO Logistics and COSCO Container Industries and stringent cost control.
