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Cosco Container Lines News

27 Jun 2017

Wan Hai Boosts China - Southeast Asia Service Network

Wan Hai Lines has announced its plan to expand the service network on China-Vietnam/Thailand corridors in July, by restructuring China-Vietnam-Thailand (CVT service) and cooperating with COSCO Container Lines with a new joint N.PRC-Thailand service (CT1) and securing slots on COSCO’s E.PRC-Thailand service. Wan Hai Lines’ independent CVT service will be restructured with effect from 10th July 2017, and turn into a China-Vietnam express dedicated service (CV1 service) with three vessels of 1,200 TEU intakes, which covers Shanghai – Qingdao – Xiamen – Hong Kong – Shekou – Da Nang – Hochiminh – Shekou – Shanghai. The new joint service with COSCO, to be named CT1 by WHL, will deploy three vessels with intake of 2,100 TEU.

16 May 2017

APM Terminals Zeebrugge Regains Asian Service

The weekly Ocean Alliance NEU4 service, operated by French-based CMA-CGM, will link the port of Zeebrugge with the Asian ports of Tianjin, Qingdao, Shanghai, Ningbo, and Yantian, China as well as Busan, Korea, beginning with the first call of the 13,380 TEU capacity APL Changi on May 16th. The NEU4 service is one of six Asia/North Europe services offered by the Ocean Alliance, which began operations on April 1st with CMA CGM, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line as members. The Ocean Alliance deploys approximately 350 container vessels with an estimated total container capacity of 3.5 million TEUs.

26 Jan 2017

Cosco Shipping Holdings to Post 2016 Loss

Cosco Shipping Holdings (CSH)has announced that its profit for 2016 will be below that of 2015, reports Reuters. The container shipping arm of state-owned China Cosco Shipping Corp expects to post a net loss of 9.9 billion yuan ($1.44 billion) for 2016, citing the impact of asset disposal and a weak freight market. On some trade lanes, including the high-volume route between Asia and Europe, average revenues per TEU in 2016 were at record lows. Cosco said that freight rates began to recover in the fourth quarter which likely helped it to a 700 million yuan fourth-quarter profit before interest and tax. The forecast full-year loss would be Cosco Shipping’s weakest annual performance since 2011 after the firm began restructuring last year in response to a prolonged market downturn.

02 Jan 2017

COSCO Container Lines Renamed COSCO Shipping Lines

COSCO Container Lines Co., Ltd. has changed its company name to  COSCO Shipping Lines Co., Ltd. (“Our Company”).   Our Company changed its official company name from COSCO Container Lines Co., Ltd. to COSCO Shipping Lines Co., Ltd. on November 18, 2016.   The terms and conditions of any contracts entered into by Our Company will not be affected by the name change.  Any ongoing contracts, which are currently being performed by Cosco Container Lines Co., Ltd.  will continue to be performed under the name of COSCO Shipping Lines Co., Ltd..   Our Company will issue bills of lading under the name of COSCO Shipping Lines Co., Ltd. starting from January 1, 2017.

03 Nov 2016

OCEAN ALLIANCE Sets Out Network

Members of the OCEAN ALLIANCE, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line,  signed a document entitled the Day One Product, which sets out the proposed OCEAN ALLIANCE’s network, including port rotation for each service loop. The Day One network intends to deploy around 350 container vessels with an estimated total carrying capacity of 3.5 million TEUs to provide one of the most comprehensive service coverage in the market on the following trade lanes. The vessel deployment details for each service loop, will be released around end of this November. 20 Transpacific services (estimated 160 port pairs, with 13 Asia - West Coast North America services, 7 Asia - East Coast North America and U.S.

31 Oct 2016

Hapag-Lloyd, UASC Seek EU Nod for Merger

German container shipping line Hapag-Lloyd and Kuwait-based United Arab Shipping Company (UASC) have submitted concessions aimed at securing EU antitrust approval for their billion-euro merger. The companies put in their offer on Oct. 28, according to a filing on the European Commission website on Monday. UASC is majority-owned by the government of Qatar. The EU's competition body, which did not provide details, will now seek feedback from customers and rivals before deciding whether to accept the concessions, demand more or open a full investigation. It will decide on the next step by Nov. 23. The merged company would be the fifth largest player globally in terms of carrier capacity…

03 Sep 2016

Virginia Port Update on Handling of Hanjin, CKYHE Cargo

In light of the recent bankruptcy filing by Hanjin Shipping, The Port of Virginia has updated its policies and processes regarding the movement and loading of Hanjin vessels and containers. The following policy is effective as of Sept. Line onto a Hanjin vessel. Line vessels. These restrictions were requested by Cosco Container Lines, "K" Line, Yang Ming Line and Evergreen Line, which with Hanjin, compose the CKYHE shipping alliance. After careful consideration, the port agreed today to comply with the request. Beginning Aug. 31, 2016, the port enacted its own restrictions regarding the movement of Hanjin freight. • Not accepting any Hanjin containers for export at any of the port’s marine or intermodal terminals.

03 Sep 2016

CMA CGM's Integration of NOL

After successfully acquiring a controlling interest in NOL, CMA CGM has consolidated the Singapore-based company since 14 June, says a press release from the company. Singapore’s Neptune Orient Lines (NOL) is the parent company of container carrier APL. As part of the NOL integration process, CMA CGM reviewed the portfolio of brands deployed on its various lines and concluded that only two brands should be used on each trade. By 30 June, the total stake had risen to nearly 93%. Since that date, a compulsory acquisition process has been initiated, which will result in CMA CGM owning all of the company's outstanding shares. Subsequently, as previously announced, NOL will be delisted.

02 Sep 2016

OOCL Won't Accept Hanjin Cargo

Hong Kong's Orient Overseas Container Line (OOCL) said it has stopped loading cargoes and containers from South Korea's Hanjin Shipping Co Ltd , which has filed for court receivership. OOCL's cargo units will also no longer be loaded on vessels operated by Hanjin Shipping, the world's seventh-largest container shipper, according to a notice posted on its website www.oocl.com and emailed to customers. "For OOCL cargo on Hanjin Shipping operated vessels that are under arrest and/or idled outside the port, we will liaise with Hanjin Shipping and the marine terminal operators to release the cargo as soon as possible," OOCL said. One vessel…

24 Aug 2016

Another Hurdle for The Ocean Alliance

William P. Doyle (Photo: FMC)

Commissioner William P. Doyle of the U.S. Federal Maritime Commission today voted in favor of requesting additional information from The Ocean Alliance parties. The Request for Additional Information (RFAI) effectively stops the clock on the agreement until such time as the filing parties answer the questions proposed in the RFAI. Once those questions are answered and filed with the Commission, a new 45-day clock commences. This Ocean Alliance agreement was filed with the Commission on July 15, 2016, and would have become effective on August 29, 2016, absent Commission action.

15 May 2016

Japan's Big Three Shipping Lines Form 3rd Largest Alliance

Japan’s three largest shipping companies - Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K Lines (MOL), and Kawasaki Kisen Kaisha (“K” Line) - and three other carriers worldwide will form the world's third-largest container shipping alliance, reports Nikkei. South Korea's Hanjin Shipping, Germany's Hapag-Lloyd and Taiwan's Yang Ming Marine Transport, on Friday agreed to join forces. The new partnership will begin operations in April 2017 for five years, subject to regulatory approval. The three Japanese shippers will adjust their ports of call and operating schedules on duplicate routes. The aim of the alliance is to combat the slowing global economy's drag on earnings with higher efficiency.

10 May 2016

FMC’s Doyle Addresses Intermodal Hot Topics

William P. Doyle (Photo: FMC)

Speaking at the Intermodal Association of North America on May 5 in Chicago, U.S. Federal Maritime Commissioner William P. Doyle discussed several of the shipping industry’s hottest topics, including ocean carrier consolidations and alliances, container weight VGM under SOLAS, and chassis. “We’ve all heard the recent announcements related to consolidations, for instance, CGM CGM and NOL-APL; and COSCO and CSCL. “We’ve all heard the announcement that Hapag Lloyd and UASC are in discussions on a possible merger.

28 Apr 2016

Fitch: M&A, Not Alliances to Help Revive Container Shipping

Mergers and acquisitions, rather than the historically more popular alliances, are inevitable to address chronic overcapacity and drive further cost savings in container shipping, Fitch Ratings says. The merger talks between Hapag-Lloyd and United Arab Shipping Company (UASC) announced last week demonstrate that full-blown M&A deals are gaining momentum. Although capacity on the Far East to Europe trade routes is dominated by just four alliances - 2M (36% of the total fleet capacity in September 2015, according to A.P. Moller-Maersk), CKYHE (24%), Ocean Three (21%) and G6 (18%) - container shipping remains effectively fragmented, highly competitive and plagued by overcapacity.

28 Apr 2016

Alliance Merry-go-round Spins Again

Four carriers have announced a new OCEAN Alliance to start next year. Where does this leave those carriers left behind? To the surprise of many it was announced last Wednesday that four carriers – CMA CGM, COSCO Container Lines, Evergreen Line and OOCL – from three different alliances are planning to join forces to create the OCEAN Alliance, to become operational from April 2017 subject to regulatory approval. There has been much speculation regarding potential changes to alliance membership following CMA CGM’s pending takeover of NOL/APL and the merger between the two Chinese state-backed lines Cosco and CSCL. However, while numerous permutations dropped into Drewry’s inbox…

22 Apr 2016

CMA CGM to Delay Mega-Ship Move

CMA CGM Group has decided to postpone its project to deploy 18,000 TEU-capacity vessels on Transpacific market trade. The much-anticipated launch of a weekly service with six mega-ships which was planned for the end of May has been delayed  in order to optimise the use of its fleet. The decision also comes as the company is rolling out an alliance with China’s Cosco Group and other rivals. French container shipping major has now signed a deal with COSCO Container Lines, Evergreen Line and Orient Overseas Container Line on creation of a new alliance, dubbed the Ocean Alliance. Analysts say CMA CGM’s new partners would not have welcomed the addition of more capacity on a route where they’re already struggling to generate profits.

21 Apr 2016

EU to Okay $2.4 bln Box Shipping Deal

EU approval conditional on NOL pulling out from G6 alliance. French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines is set to be cleared by the European Union's competition regulators, on condition that NOL pulls out from a rival shipping alliance, two people familiar with the matter said on Thursday. CMA CGM, the world's third-biggest container shipping company, is looking to strengthen its position against bigger rivals Maersk Line and Swiss-based Mediterranean Shipping Co (MSC). CMA CGM's plan to withdraw NOL from the G6 alliance, which competes with its own Ocean Three alliance, was able to address European Commission concerns, the people said.

20 Apr 2016

Box Shippers Form Asia-focused Ocean Alliance

Photo: CMA CGM

France's CMA CGM and China's COSCO Container Lines are to form a four-way vessel-sharing alliance with Evergreen Line and Orient Overseas Container Line focused on Asia routes, CMA CGM said on Wednesday. Container shipping has seen route-sharing develop in response to a severe downturn in the market, and a rejigging of alliances had been expected in recent months after COSCO merged with China Shipping Group and CMA CGM agreed to acquire Singapore's Neptune Orient Lines (NOL).

20 Apr 2016

COSCO Chose Alliance Partners Based on Size, Value System

Photo: China COSCO Shipping

China's COSCO Container Lines chose new alliance partners based on size and the value of arrangements, executives from the firm and parent China COSCO Shipping said at a press conference in Shanghai on Wednesday. The executives said four partners plan to inject 3.5 million twenty-foot equivalent units (TEU) of container capacity into the alliance. Existing alliance arrangements are due to expire at the end of this year, they said. COSCO Container Lines and France's CMA CGM SA…

15 Mar 2016

Deng Huangjun New CFO for China Cosco

China Cosco Holdings has appointed Deng Huangjun as its new chief financial officer, after his predecessor Tang Runjiang resigned. Deng, 53, is also a director and deputy managing director at Cosco Pacific. Tang Runjiang has resigned with effect from 14 March 2016 due to change in job arrangement, informs a statement from the company. Tang Runjiang has confirmed that he has no disagreement with the Board, and there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company. The Company expresses its sincere gratitude to Tang Runjiang for his valuable contributions as chief financial officer of the Company during his term of office.

10 Mar 2016

WSS to Supply Gas Detectors for COSCON Container Fleet

WSS is installing Unitor gas detectors on 70 COSCON vessels (Photo: WSS)

Wilhelmsen Ships Service (WSS) has signed a contract with COSCO Container Lines Co. Ltd (COSCON) to supply its Unitor multi-gas detectors to the company’s expanding container fleet. The deal, worth more than $200,000, covers 70 vessels, including 20 newbuilds scheduled to launch between now and 2018, plus a five-year service agreement to maintain the detection units. “WSS have consistently delivered the products and service solutions our business demands,” said Mao QingDao, Technical Director of the COSCON fleet.

26 Jan 2016

COSCON Selects CargoSmart’s Carrier IT Solutions

CargoSmart Limited, a shipment management software solutions provider that leverages big data for greater visibility and benchmarking, announced that COSCO Container Lines Co. Ltd. (COSCON) has started to implement CargoSmart’s online customer service and ocean carrier analytics solutions. The customer service solutions provide COSCON with process-oriented documentation and visibility tools for its customers to manage their shipments online. The carrier operations solutions help COSCON to optimize their vessel operations. Using predictive analytics, COSCON leverages CargoSmart’s global vessel and route data to improve planning, marine operations, and cost savings. Increased visibility to vessel operation exceptions and potential disruptions enables COSCON to respond faster and save costs.

15 Dec 2015

DP World to Tackle Illegal Wildlife Trade

Global marine terminal operator DP World has agreed to a set of 11 principles designed to help tackle the US$ 19 billion illegal wildlife trade. In a groundbreaking meeting in London last week, members of the United for Wildlife International Taskforce on the Transportation of Illegal Wildlife Products finalised the document that will shape the efforts of its transport and logistics sector members in the future. The Declaration and Commitments cover a raft of issues from information sharing and detection, practical measures to stop the transportation of illegal wildlife products and a common determination to tackle the illegal trade, wherever it may be.

02 Dec 2015

DNV GL to Class SWS Built ULCS

DNV GL signed a newbuilding classification agreement with Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) for the classification of three 20,000 TEU ultra large container ships (ULCS) for COSCO Container Lines Co., Ltd. (COSCON). Scheduled for delivery beginning in January 2018, the vessels will be dual classed by DNV GL and China Classification Society (CCS) and will be deployed in the Far East–Europe trade. “This contract is another milestone in China’s evolution into one of the world’s leading shipbuilding nations,” said Jan-Olaf Probst, Head of Business Development Hamburg. “SWS has been on a very strong development path and has consistently been one of the top Chinese yards in terms of efficiency and innovation…