Jotun, COSCO Celebrate 10,000th Antifouling Applications
In July, Jotun and Dalian Ocean Shipping Company (a wholly-owned subsidiary of China Ocean Shipping Company, Cosco Group), celebrated the 10,000th application of SeaQuantum, Jotun’s premium antifouling, to its 297,336-dwt tanker, Cosrich Lake. According to Zhao Jinwen, Vice Managing Director COSCO DALIAN, SeaQuantum plays an important role in the company’s efforts to improve fuel efficiency and reduce emissions. “COSCO DALIAN is committed to building the largest, specialized and most fuel-efficient fleet of bulk liquid carriers in China…
Cosco International Posts $46.3 mln Profit
The shipping services arm of China Ocean Shipping, Cosco International reported its profit attributable to equity holders for the year ended 31 December 2014 rose 48.6% year-on-year to HK$359 million ($46.3 million). Revenue, however, fell 18.5% to HK$7.59bn as contributions from the core shipping services businesses decreased. Cosco International noted that the overhang of shipping capacity continues to exist and the shipping market will remain sluggish. “Cost control by shipowners is expected to remain and business prospects of the shipping services industry will unavoidably be under pressure,” the company said. The great increase was attributed to the marked increase in operating profits of coatings, ship-trading agency, and marine equipment and spare parts businesses.
China Merchant Boosts Efficiency of VLCCs with Jotun HP
China Merchant Energy Shipping Co., Ltd (CMES) will upgrade the antifouling solution on their VLCCs New Builds at Dalian Shipbuilding Industry Co., Ltd. (DSIC) and new subsequent contracts to Jotun Hull Performance Solution (HPS) including SeaQuantum X200. In today’s highly competitive market, facing challenge of environment protection and economic environment, most ship owners are paying more attention to improve efficiency and reduce cost. “We actively respond to the call of energy-saving and emission reduction. According to the characteristics of our fleet, we closely track and adopt international advanced new energy saving and emission reduction technology, continue to promote the technological transformation of energy-saving and emission reduction,” said CMES Assistant president Mr.
HK's COSCO International Reports Strong Profit Growth
For the six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY. Strong profit growth: profit attributable to the equity holders surged by 45% to HK$190 million. Rebound of 374% YOY in profit contribution from the Group's joint venture, Jotun COSCO. Dividend: the Board has declared an interim dividend of 3 HK cents per share, increased by 50% YOY. Strong cash position: the Group had net cash of HK$6 billion as at 30th June 2014, which will support business expansion in the future. Mr. "With the advantages of strong cash position…
Jotun to Supply Hull Coatings to COSCO Container
Under the terms of the agreement, Jotun will supply its top of the range Hull Performance Solution, including SeaQuantum X200 antifouling paint and a High Performance Guarantee, to a number of vessels scheduled for drydock in 2012 and 2013. The first vessel to be upgraded will be the 10 000 TEU COSCO Europe scheduled for dry docking September 2012. According to COSCO Container’s Deputy Managing Director, Mr Hou Liping, the agreement is consistent with COSCO Container’s comprehensive commitment to Sustainable Development, part of which involves taking active steps to reduce Green House Gas emissions. Mr. Hou Liping said: “After extensive review we have concluded that hull performance can play a very significant role in further reducing our fuel cost and Green House Gas emissions.
Milestone for Jotun’s Hull Performance Solutions (HPS)
Jotun COSCO Marine Coatings (Qingdao) Co Ltd has announced that the company has reached an important agreement with COSCO Container to help reduce fuel costs and carbon emissions. Under the terms of the agreement, Jotun will supply its top of the range Hull Performance Solution, including SeaQuantum X200 antifouling paint and a High Performance Guarantee, to a number of vessels scheduled for drydock in 2012 and 2013. The first vessel to be upgraded will be the 10 000 TEU COSCO Europe scheduled for dry docking September 2012. According to COSCO Container’s Deputy Managing Director, Mr Hou Liping, the agreement is consistent with COSCO Container’s comprehensive commitment to Sustainable Development, part of which involves taking active steps to reduce Green House Gas emissions.
