Cosco News

Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.China currently has the world's eighth-largest fleet with 33 car-carrying ships, showed data from shipping consultancy Veson Nautical. Japan has the world's largest with 283 ships, followed by Norway's 102, South Korea's 72 and Isle of Man's 61.But Chinese companies have 47 ships on order, accounting for a quarter of all orders globally.

China's Cosco Shipping confirmed that investment in Peru's Chancay port continues and that it expects a quick resolution to a pending question over exclusivity rights to the facility, a local executive told reporters on Tuesday.Carlos Tejada, the company's general manager in Peru, made the announcement at an international trade event in the capital Lima.Last month, the Asian shipping firm said it was evaluating the impact of a move by Peru's government to annul the exclusivity it holds over operations at the under-construction megaport, seen as a key driver of growth for the South American cou

A resolution to end a dispute between Peru and China's Cosco Shipping could come as soon as this week to ensure a megaport will start operations as planned by the end of the year, Peru's Prime Minister Gustavo Adrianzen said on Thursday.The Peruvian port authority said in Marchit hoped to annul its decision granting exclusivity of the port's operations to Cosco, citing an "administrative error."Cosco, which is investing $1.3 billion in the first stage of the terminal, has said the push affects the "security and legal stability of investments."On Thursday…

Iridium Communications has announced Cosco Shipping (CSSC), the world's largest fleet of commercial vessels with 1,417 ships, has begun installation of Iridium® Global Maritime Distress and Safety System (GMDSS) terminals.The recent installation of the Lars Thrane LT-3100S terminal on the Cosco Tengfei is a testament to CSSC always prioritizing the safety of its crew, ships, and cargo, says Iridium.The Cosco Tengfei is a modern pure car and truck carrier (PCTC) vessel capable of transporting up to 5,000 vehicles.

Hede (HONGKONG) International Shipping Limited has been classified by the US Federal Maritime Commission as a controlled carrier of the Government of the People’s Republic of China and added to the agency’s Controlled Carrier List.The Controlled Carrier List was further revised by removing COSCO Shipping Lines (Europe) GmbH, which has ceased serving the US trades and has cancelled its tariff. Other COSCO entities remain on the list.Controlled Carriers are ocean common carriers operating in the US-foreign trades that are…

French shipping company CMA CGM and its business partners COSCO Shipping 601919.SS, Evergreen 2603.TW and OOCL said on Tuesday that they had agreed to extend their 'OCEAN Alliance' co-operation deal for another five years beyond 2027, to 2032.The 'OCEAN Alliance' partnership aims to help customers deal with their supply chains by offering up fast transit times and access to a wide range of ports, said CMA CGM.The agreement to extend the partnership was signed in Shanghai on Tuesday."The decision to extend our co-operation for at least five more years forges our commitment to meet our customers

Hong Kong based ocean carrier Orient Overseas Container Line Ltd. (OOCL) announced it has taken delivery of its eighth 24,188 TEU containership, OOCL Abu Dhabi.The vessel is the fourth in a series of six 24,188 TEU newbuilds to be delivered to OOCL by the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) shipyard in China. The ultra large containership is 400 meters long and 61.3 meters wide.OOCL Abu Dhabi was officially named during a ceremony at the shipyard on February 25.

Altera Infrastructure has hired DOF to install Voyageur Spirit floating production, storage and offloading (FPSO) unit as well as one floating storage unit (FSO) at Eni-operated Baleine oil field offshore Ivory Coast.The project includes the complete installation of seabed mooring systems, flowline between the FSO – a converted shuttle tanker Nordic Brasilia - and the Voyageur Spirit FPSO, along with their associated equipment.The contract for the redeployment of the FPSO and the FSO was secured by Altera back in October 2023.Voyageur Spirit is a cylindrical-shaped FPSO…

CMA CGM has lined up several of its existing containerships for conversion to dual-fuel methanol propulsion.The French ocean carrier has signed contracts with China State Shipbuilding Corporation’s (CSC) Qingdao Beihai Shipbuilding to carry out the conversions starting from mid-2025. The program will reportedly include one or two 9,300 TEU vessels but could grow to up to 10 ships if successful.CMA CGM joins a growing list of container shipping companies that have moved to convert ships to run on methanol…

China''s Mawai Shipyard has started building the first in a series of 22 new multipurpose cargo carriers for COSCO Shipping Specialized Carriers (Southeast Asia) Pte. Ltd.The 85,000 DWT series vessel will measure 225 meters long with a breadth of 36 meters, a depth of 21.05 meters, a designed draft of 10 meters, and a designed speed of 15.5 knots.According to the construction plan, all 22 vessels in this series are scheduled for delivery between 2025 and 2026.The ships will primarily serve the export of Chinese manufacturing equipment in sectors such as automobiles…

China has called for an end to attacks on civilian vessels in the Red Sea that have dramatically widened the Hamas-Israel conflict and placed Beijing's commercial interests along the Suez Canal at risk.The Iran-backed Houthi militia from Yemen that seeks "Death to Israel" is challenging the ability of the world's biggest trading nation to defend billions in strategic investments in Egypt.Since President Abdel-Fattah el-Sisi came to power in 2014, China has stepped up its investment and commercial activities along Egypt's Suez Canal…

Israel's Transport Ministry on Tuesday said it was seeking to clarify Chinese shipper COSCO's reported decision to halt shipping to Israel.Israeli media this week reported that COSCO had suspended shipping to Israel.

Chinese shipping firm COSCO has suspended shipping to Israel, Israeli financial news website Globes reported on Sunday.The report, which did not include details behind the decision, came as shipping lanes in the Red Sea have been disrupted by attacks carried out by Iranian-backed Houthi militants in Yemen.COSCO offices in Israel declined comment. Israeli port officials said they were checking the report.(Reuters - Reporting by Ari Rabinovitch and Steven Scheer; Editing by Tomasz Janowski)

Orient Overseas Container Line Ltd. (OOCL) announced it has taken delivery of another new 24,000 TEU mega vessel.Named OOCL Valencia during a ceremony at China's Nantong COSCO KHI Ship Engineering Co., Ltd., the newbuild is the seventh eco-friendly 24,188 TEU vessel in a series of 12 ordered by OOCL. It will serve OOCL’s Asia-Europe LL1 service.YU Tao, Director and Member of Executive Committee of OOCL, said at the ceremony: “Last year, OOCL received a total of six new container vessels and thus rapidly optimized the fleet structure of both OOCL and the group.

Cosco Shipyard in China has launched Cadeler’s newbuild vessel Wind Peak, designed to be able to transport and install up to seven complete 15 MW offshore wind turbine sets per load.The launching of Wind Peak is a critical milestone that marks the completion of the vessel’s hull, Cadeler said.Leading up to the launch is two years of intricate engineering and 18 months of construction of the P-class vessel.After the launching, the jacking legs and cranes will be installed onboard alongside various technical installations…

COSCO Heavy Industry Shanghai Co. Ltd. has signed a contract with MAN Energy Solutions for the methanol retrofit of four main engines from COSCO Line’s Camellia and Virgo -class vessels – 13,800 and 20,000 teu respectively. Currently equipped with single-fuel MAN B&W 11S90ME-C10.5 engines, the vessels will be retrofitted to dual-fuel MAN B&W 11S90ME-LGIM10.5 units capable of operating on fuel-oil or methanol, in the process becoming the first vessels in COSCO’s fleet to sail on methanol.The contract also includes an option for the retrofit of an additional nine vessels from the line’s 20…

Angad Banga of The Caravel Group was elected Chairman of the Hong Kong Shipowners Association at the organization’s annual meeting held on November 22, 2023.Banga succeeds Wellington Koo, of Valles Steamship, who stepped down after completing his two-year term as Chairman.Richard Hext of Swire Shipping was elected Deputy Chairman, succeeding Banga. Qian Weizhong of COSCO Shipping (Hong Kong) and Wang Yongxin of China Merchants Energy Shipping Company Limited were re-elected as the Vice Chairmen.Koo…

Swiss marine power company WinGD announced it will supply X-DF-M methanol-fueled engines for a series of six container vessels to be built at Yangzijiang Shipbuilding in China. The 9,000 TEU vessels will each be powered by an X82DF-M engine built by HD Hyundai Heavy Industries’ Engine & Machinery Division (HHI-EMD), to be delivered in August 2025. The new vessel series will enter service in 2026 and 2027.The new order, which includes options for further engines, expands WinGD's methanol engine orders into the 82-bore size.

BIMCO’s Chief Shipping Analyst, Niels Rasmussen, has revealed that Greek and Chinese shipping companies now own 34% of the global fleet’s cargo capacity, with Greek owners leading on cargo capacity.“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships owned by Greek and Chinese shipping companies contribute 34% of the total fleet’s deadweight tonne capacity,” says Rasmussen.Although consolidation has been significant within the container shipping segment…

Varamar DMCC has entered into a strategic commercial partnership with ASL Shipping & Logistics Pvt Ltd, a COSCO Shipping Group company,  with the aim of helping both companies to strengthen their respective trades.Varamar, a liner and tramp carrier that specializes in breakbulk, dry-bulk, oversized, and containerized cargo, has historically focused on trade lanes connecting Europe with the Middle East, Asia, and the Far East, while also trading to Africa and the Americas. The recent expansion of Varamar to 10 international branches…

Maritime clean technology company Silverstream Technologies announced it has signed an agreement in principle (AIP) with China Classification Society (CCS), the primary class society in China that serves the shipping, offshore and related industrial industries.This is Silverstream’s first agreement of this nature with a classification society. The AIP confirms that CCS has reviewed and verified the Silverstream System’s design drawings and provides an independent class verification of its generic system design.

Swiss-based MSC, the world's biggest container shipping company, has offered to buy almost half of the main operator of Hamburg port in a deal that could be worth nearly 1.3 billion euros ($1.4 billion), setting the stage for a potential bidding war.Shares in HHLA, which runs Germany's biggest port, soared 49% to a 19-month high as shortly after Wednesday's announcement German logistics billionaire Klaus-Michael Kuehne said he was considering a counter offer."We are examining the submission of a public takeover bid, but would prefer an agreement with the city of Hamburg on privatization - be i

Safetytech Accelerator, a non-profit established by Lloyd’s Register, has confirmed that UK maritime insurers, the UK P&I Club and TT Club, have signed up for its Cargo Fire & Loss Innovation Initiative (CFLII).The Initiative, launched in February 2023, is a multi-year collaborative technology acceleration program focused on reducing cargo fires and loss in maritime and its impact. It is already supported by anchor partners COSCO Shipping Lines, Evergreen Line, HMM, Lloyd’s Register…