China Shipping Container Lines Co Ltd News

The global shipping containers market garnered $9.29 billion in 2017 and is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.Surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market, said a research report by Allied Market Research.However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth. On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Based on size of container…

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Asia-Pacific is a lucrative region.

The ship-leasing unit of China’s state-owned shipbuilder China State Shipbuilding Corp. (CSSC) plans to raise as much as HK$2.2 billion ($280 million) in an initial public offering in Hong Kong.CSSC (Hong Kong) Shipping, the leasing company, is issuing 153.4 million shares at an indicative price range of HK$1.34 to HK$1.42. The minimum investment is HK$2,868.62 per lot of 2,000 shares.CSSC (Hong Kong) Shipping owns 100 vessels with a total value of $5.6 billion.According to Caixin, CSSC will remain the largest shareholder of the Hong Kong unit with 75% after the listing.The report said that CSSC (Hong Kong) Shipping has secured four cornerstone investors that subscribed for a combined 1.25 billion shares.The investors are China Reinsurance Corp., China Shipping Container Lines Co.

China Shipping Container Lines (CSCL) has proposed to change its name to Cosco Shipping Development Co (CSDC), in line with the company’s future business strategy and as a group member of China Cosco Shipping Corporation (Coscocs). "China Shipping Container Lines Co., Ltd. Board of Directors hereby announces that, in view of the Major asset restructuring program the company has been related to the motion of the Company and in February 1, 2016 the first meeting of 2016 Extraordinary General Meeting, through a major reorganization of assets, the Company will transfer container liner operators Type into a ship leasing, container leasing and non-leasing aircraft leasing business as the core…

Following is the statement of FMC Commissioner William P. We do not take our hands off the wheel just because an agreement is allowed to go into effect without the Commission taking any further action to delay the implementation of the agreement. FMC staff has requested certain information from the parties to the Pacific Ports Operational Improvements Agreement (PPOIA). To date, the response by the PPOIA parties has been incomplete. As a Commissioner I am interested in information including but not limited to service agreements between the vessel operating common carriers and the marine terminal operators, as well as information related to chassis operations.

China Shipping Container Lines Co. Ltd. (CSCL) ran sea trials from October 17-20 on its newbuilding, CSCL Globe, the first vessel in a series of five 19,000-teu, 400-meter containerships. The vessel, reported to be the world’s largest containership, is also noteworthy for being powered by what is, physically, the largest engine ever constructed, a low-speed MAN B&W 12S90ME-C Mark 9.2 type. According to the engine builder, the two-stroke engine is rated at 69,720 kW at 84 rpm although has been de-rated to 56,800 kW. The new container vessel was constructed at Hyundai Heavy Industries, Ltd.

United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and ride out tough markets. The shipping industry has been battling overcapacity, linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009, forcing operators to look for ways to overcome one of the worst slumps on record. Despite the oversupply, companies are…

China Shipping Industry (Jiangsu) has begun construction of the largest container ship yet to be built in China. The 10,000TEU container ship is being built for China Shipping Container Lines Co., Ltd. (CSCL) which the shipbuilders describe as the realiization of their dream by the construction of the centennial [sic] vessel for CSCL and of creating a world first-class enterprise. The ceremony was presided over by Mr. Wang Yiling, the Executive Director of CICJS. General Manager of China Shipping Industry Co., Ltd. (CIC) Ye Xiaojian made an address of welcome.

China Shipping Container Lines Co., Ltd. (CSCL), part of the China Shipping Group (CSG), has chosen Wärtsilä main engines for eight container vessels. The Wärtsilä engines for this order will be built under licence by Doosan Engine, Korea. Wärtsilä, the marine industry's leading ship power system integrator, will supply a package of support services for this order, which was placed in October. The ships are to be built at the Jiangnan Changxing shipyard in Shanghai. "The low fuel consumption across many load parameters was the key technical reason to select the Wärtsilä common rail 2-stroke engine," said Li Xueqiang, deputy GM of CSCL.

Seaspan Corporation (NYSE:SSW) has accepted delivery of the CSCL Callao, a 2500 TEU newbuilding. The new containership, which was constructed by Jiangsu Yangzijiang Shipbuilding Co., Ltd., expands Seaspan's current operating fleet to 36 vessels with 32 remaining newbuildings to be delivered over approximately the next three years. The CSCL Callao was delivered on April 8, 2009. The CSCL Callao is subject to a time charter with China Shipping Container Lines (Asia) Co., Ltd. for a twelve-year period at a fixed rate. CSCL Asia is a subsidiary of China Shipping Container Lines Co., Ltd., the world's eighth largest liner company in terms of shipping capacity. Under the terms of the fixed-rate time charter, CSCL Asia is responsible for fuel costs and all cargo operating and related expenses.

The Federal Maritime Commission (FMC) issued a Notice stating that it will meet in closed session on January 21, 2004 to consider various issues related to China. Matters to be considered include the petition of China Ocean Shipping (Group) Company for a partial exemption from the Controlled Carrier Act; the petitions of China Shipping Container Lines Co., Ltd. and SINOTRANS Container Lines Co., Ltd. for full exemptions from the first sentence of section 9(c) of the Shipping Act of 1984; and review of shipping restrictions, requirements, and practices of the People’s Republic of China. (1/2/04). (Source: HK Law)

PHOTO: Mr. China Shipping Container Lines Co. Ltd, a subsidiary of China Shipping Group, is one of the largest Shipping companies in China. It owns a fleet of 103 container vessels with a total capacity of over 120,000 TEUs, and is operating dozens of domestic coastal and international routes from China to Japan, Korea, Southeast Asia, Australia, Europe, Mediterranean and North America. In the beginning of 2003, when the construction of their new Xin Series began, it has been decided to equip the 5600TEU vessels with Litton Sperry VMS ECDIS and 4200TEU vessels with KH ECDIS.

China Shipping Development Co. Ltd. has entered into a series of ship chartering agreements worth $12.2 million with associates of its parent company China Shipping (Group) Co. On May 26, China Shipping Development entered into a bareboat charter agreement with Shanghai Shipping Industrial Co. Ltd., a wholly owned subsidiary of China Shipping (Group), which agreed to lease to the company three oil tankers for one year, the company said. It also entered into a charter agreement with China Shipping (Hong Kong) Marine Co. Ltd., also a wholly owned subsidiary of its China Shipping (Group), to charter six dry bulk cargo vessels to China Shipping Marine for one year. The company also entered into a charter agreement with China Shipping Container Lines Co.

Seaspan Corporation announced that it exercised its option to build four 2500 TEU vessels at Jiangsu Yangzijiang Shipbuilding (YZJ) in China. This option was part of the February transaction with YZJ that included the firm order of four 2500 vessels and options to build eight more at the same price. These new orders will increase the company's total fleet to 33 vessels when the vessels are delivered between May and August 2009. The total delivered cost is expected to be approximately $44.7m per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous 12-year charter agreements for these four vessels with China Shipping Container Lines (Asia) Co. Ltd.

Seaspan Corporation has signed a contract to build four 2500 TEU vessels from Jiangsu Yangzijiang Shipbuilding in China. These new orders are incremental to Seaspan's original contracted fleet and will increase the company's total fleet to 29 vessels. The four newbuilding vessels will be delivered between September 2008 and March 2009. The total delivered cost is expected to be approximately $44.5 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous twelve-year charter agreements for these four vessels with China Shipping Container Lines (Asia) Co. Ltd. ("CSCL Asia") at an initial rate of $16,750 per day, increasing to $16,900 per day after six years.

The Federal Maritime Commission (FMC) issued a Notice