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China Cosco Shipping News

24 Nov 2022

ABB's Shaft Generator Systems for COSCO's Ten Container Ships

©ABB

ABB has secured a contract with the Chinese shipyard COSCO Shipping Heavy Industry (Yangzhou) Co. Ltd., to equip 10 China COSCO Shipping Corporation Limited container vessels with its permanent magnet shaft generator systems. Due for delivery by the end of 2025, the order comprises systems for six 14000TEU vessels and four 16000TEU vessels."The International Maritime Organization (IMO) is introducing new regulatory standards – the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) – which will come into force in January 2023.

31 Oct 2022

COSCO Shipping to Buy $2.7B Port Assets from Parent. Enters $2.9B Shipbuilding Deal

©Wolfgang Jargstorff/AdobeStock

COSCO Shipping Holdings Co Ltd  said on Monday it has agreed to buy port assets from its parent for an aggregate 19.7 billion yuan ($2.7 billion) as it aims to build a global digital supply chain for its customers. The Chinese shipping group said it would buy 14.9% of Shanghai International Port (Group) from its indirect controlling parent China COSCO Shipping Corp Ltd for 18.9 billion yuan, and a 3.2% stake in Guangzhou Port for 778.7 million yuan. COSCO Shipping Holdings also…

26 Aug 2022

MOL Orders Six LNG-fueled Vessels

(Image: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) announced it has ordered six liquefied natural gas (LNG)-fueled vessels—four bulk carriers and  two tankers—as the Japanese shipping company makes headway toward its goal of 90 LNG-fueled vessels by 2030.The company said on Friday signed a deal for construction of four 210,000 DWT-class Capesize bulkers with CSSC Qingdao Beihai Shipbuilding Co., Ltd., marking MOL's first newbuild order from the Chinese shipyard. Slated for delivery in succession from 2025 through 2026…

09 Jun 2022

Huisman's Leg Encircling Crane for Another Cadeler Offshore WInd Vessel

Credit: Huisman

Dutch crane specialist Huisman won a contract with China's COSCO Shipping (Qidong) Offshore Co., Ltd. for the design and construction of a Leg Encircling Crane (LEC).The crane, with a fully electrically driven system, will be installed on the $345 million F-class jack-up vessel recently ordered by the Danish offshore wind installation firm Cadeler. The vessel will be able to install both offshore wind foundations as well as the next-generation wind turbines.To remind, Huisman last year won contracts for two identical 2…

25 Feb 2022

COSCO Shipping Suspends Services in Ukraine

©Björn Wylezich/AdobeStock

The container shipping arm of China's COSCO Shipping said on Friday that it will stop accepting new bookings for cargoes to and from Ukraine, the latest shipping group to take such action after Russia launched an invasion of Ukraine.The company's vessels already en route to Ukraine will be re-directed to elsewhere available, COSCO Shipping said, without giving further details.(Reporting by Muyu Xu and Florence Tan; Editing by Susan Fenton)

01 Dec 2021

Huisman's Cranes for Cadeler's New Wind Turbine Installation Vessels

Credit: Cadeler

Dutch offshore crane maker Huisman has secured a contract from China's COSCO Shipping (Qidong) Offshore Co., Ltd. to design and build two >2,000mt Leg Encircling Cranes (LEC) for Cadeler's recently ordered two new build X-class vessels.The identical Leg Encircling Cranes will have a 155-meter long boom, capable of reaching 180.5m above deck. Optionally, the boom can be upgraded to 175m in order to increase the lifting height to 200.5m. With these cranes, Denmark-based offshore…

08 Oct 2021

Cadeler's Wind Osprey Jack-up Selected for German Offshore Wind Projects

 File Image: Cadeler

Danish offshore wind installation firm Cadeler has been chosen as a preferred supplier of wind turbine generator installation vessels by Ørsted for the combined Gode Wind 3 & Borkum Riffgrund 3 projects in the German North Sea.The award covers the transport and installation of a minimum of 48 x 11MW turbines, which will be located adjacent to Ørsted's existing offshore wind farms Borkum Riffgrund 1 and Borkum Riffgrund 2 and in the vicinity of Gode Wind 1 and 2.For this project Cadeler will deploy its installation vessel Wind Osprey…

22 Sep 2021

King’s Quay Floating Production Unit Reaches Texas

Credit: Cosco Shipping

China's Cosco Shipping has earlier this month delivered the King’s Quay floating production unit to Ingleside, Texas, aboard its M/V Xiang An Kou semi-submersible heavy transportation vessel, after a long journey from South Korea.The 21,498mt platform, built by Hyundai Heavy Industries, will be used for Murphy Oil's offshore oil field developments around 175 miles south of New Orleans in the U.S. Gulf of Mexico.The King’s Quay floating production unit is scheduled to go into service in 2022.

30 Jun 2021

Cadeler Orders Offshore Wind Industry's 'Largest' Installation Vessel Duo

Credit: Cadeler

Offshore wind installation company Cadeler has ordered two new X-class wind turbine installation vessels from China's COSCO SHIPPING Heavy Industry.The total order amounts to $651 million, so $325.5 million per vessel. According to Cadeler, the new vessels will, upon completion, be the largest in the industry. They will be built in COSCO's shipyard in Qidong, China."Cadeler is delighted to announce that negotiations with COSCO SHIPPING Heavy Industry Co. Ltd. have been finalized…

24 Jun 2021

COSCO, Dalian Exchange Ink Pact on Shipping Futures

© Marina Ignatova / Adobe Stock

China's COSCO Shipping Group and the Dalian Commodity Exchange (DCE) have signed an agreement to jointly work on developing shipping derivatives such as container capacity futures, according to an article posted by the bourse on Thursday.China's largest shipping line has been talking to the DCE for years about shipping futures.

05 Feb 2021

Konecranes Wins Chinese Order for Two Barge Cranes

(Photo: Konecranes)

In the first quarter of 2021, Jiangsu Zhenjiang Shipyard (Group) Co., Ltd. ordered two eco-efficient Konecranes Gottwald Model 8 Cranes on Barge. The cranes will be operated by Cosco Shipping Bulk Co. Ltd. (Cosco Bulk) off the coast of Guinea, Africa.Home to the world’s largest reserves of bauxite, the Guinean mining industry has been expanding. Cosco Bulk, a subsidiary of a world-leading shipping company, China Cosco Shipping Corporation Limited, found they needed more cranes to cope with the volume.

29 Oct 2020

MOL Names New LNG Carrier LNG Megrez in China

LNG Megrez (Photo: MOL)

A naming ceremony was held October 20 for a new liquefied natural gas (LNG) carrier jointly ordered by Mitsui O.S.K. Lines, Ltd. (MOL) and China COSCO Shipping Corporation Limited (China COSCO Shipping), at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.

11 Aug 2020

Norden Orders Two More Bulk Carriers at NACKS

(Photo: Norden)

Norden announced Tuesday it has added two bulk carriers to an existing newbuilding contract with shipbuilder Nantong Cosco Khi Ship Engineering Co. (NACKS), taking the total order to six vessels.The Danish shipowner said it has already sold two of the six vessels on sale and lease back terms, freeing up liquidity. The newbuilds are scheduled to be delivered from 2022.In addition, Norden said it bought a secondhand 2014 built Supramax bulk carrier scheduled to join its fleet in September.

30 Jun 2020

COSCO Orders Three LNG Carriers at Hudong-Zhonghua

File photo: A 170,000m3 class LNG carrier delivered by Hudong-Zhonghua in 2017 (Photo: Hudong-Zhonghua Shipbuilding Co)

Hudong-Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corp, has signed contract to construct three liquefied natural gas (LNG) carriers worth 3.9 billion yuan ($551.62 million), reported the state-backed Jiefang Daily on Tuesday.The LNG carriers, each with a capacity of 174,000 cubic metres, will be operated by China COSCO Shipping and be deployed for LNG shipping services for PetroChina International Co, an affiliate of China National Petroleum Corp."The construction of the new LNG carriers is to response government calls to expand domestic demand," Jiefang Daily reported, citin

11 Aug 2020

Norden Orders Four Ultramax Bulkers

(File photo: NORDEN)

Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy…

12 Mar 2020

Kawasaki Delivers Newbuild Market Cooper

Japanese shipbuilder Kawasaki Heavy Industries (KHI) has delivered the bulk carrier Market Cooper to an unnamed shipowner.The 61,000DWT vessel was built jointly by Kawasaki and China COSCO Shipping Corporation at Nantong COSCO KHI Ship Engineering (NACKS) which is located in Nantong City, China.Market Cooper has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products, said the company.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

16 Jan 2020

Kawasaki Delivers Newbuild Bulker

Japanese shipbuilder Kawasaki Heavy Industries  (KHI) has delivered the bulk carrier FJ Viola, with a capacity of 61,000 DWT, for F.J.Lines Inc. at the Dalian Cosco KHI Ship Engineering Co., Ltd. (DACKS).DACKS is located in Dalian City, China and operated jointly with China Cosco Shipping Corporation Limited.According to a press release from KHI, The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

09 Jan 2020

Yamal LNG Gets New LNG Vessel

Japanese shipping giant Mitsui O.S.K. Lines (MOL) has held a naming ceremony for an LNG carrier, jointly ordered by MOL and China COSCO Shipping.The naming ceremony for the LNG Merak carrier was held on Wednesday, January 8, at Hudong-Zhonghua Shipbuilding yard, according to MOL.The "LNG Merak" is the second of four newbuilding LNG Carriers for the Yamal LNG Project announced at the end of June, 2017, and the sister vessel of the "LNG Dubhe" which was delivered at the end of last October in the same shipyard.LNG Merak will be engaged in the transport of the Project's LNG from transshipment terminals in Europe to Asia LNG terminals.MOL has been operating 11 LNG carriers built in China for other projects…

17 Oct 2019

DACKS Delivers Bulk Carrier FJM Glory

Panama-based Stiringaster Line has taken delivery of FJM Glory, a 61,000 dwt bulk carrier newbuilding.The delivery ceremony took place in China at the Dalian COSCO KHI Ship Engineering (DACKS) shipyard, jointly operated by Kawasaki Heavy Industries (KHI) and China COSCO Shipping.The 77,539 cbm vessel features a length of 199.9 meters, a width of 32.24 meters and can accommodate 25 people.The ship has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products. Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

25 Oct 2019

PIRAEUS I Floating Dock Ready for Ops

Greece's Piraeus Port Authority (PPA) announced that the "PIRAEUS I" floating dock is available again for ship repair works."PIRAEUS I floating dock has been delivered for use and is operating again after scheduled maintenance works," said an announcement from PPA.PIRAEUS I is 202 m. long, with inner width 31 meters, has lifting capacity of 15,000 tons and can serve ships with capacity of 40,000 tons.During the first nine months of 2019, the ship repair activity at the port of Piraeus is showing an increase, despite the temporary suspension of PIRAEUS I floating dock operations, as the ships in docks increased by + 11% and the ships under repair in Ship Repair Zone increased by 7.4% compared to the same period of 2018.The Management of PPA S.A.

29 Oct 2019

KHI Delivers Bulk Carrier Gramos

Japanese public multinational corporation Kawasaki Heavy Industries Ltd. (KHI) has delivered a 61,000 dwt bulk carrier newbuild, Gramos, to Gramos Navigation, in China.The delivery of the Ultramax took place at the Nantong COSCO KHI Ship Engineering (NACKS) on October 29, 2019, said a release from KHI.NAKCS is located in Nantong City, China and operated jointly by China COSCO Shipping and KHI.The vessel incorporates various energy saving technologies, which reduce both fuel consumption and emission of carbon dioxide (CO2), thereby complying with the Energy Efficiency Design Index (EEDI) Phase 2 requirements, said the shipbuilder.The Barbados-flagged bulker has a length of 199.9 meters and a width of 32.24 meters.

13 Nov 2019

Product Tanker Freight Rates Rebounds

Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.Denmark-based TORM said that growth in global demand for oil products generally remained subdued in the first two months of the quarter but showed signs of increased momentum towards the end of the quarter.The particularly heavy refinery maintenance schedule in the second quarter eased in the third quarter…

06 Jan 2020

KHI Delivers Bulk Carrier Amis Treasure

Japanese shipbuilder Kawasaki Heavy Industries Ltd. announced that it delivered the bulk carrier Amis Treasure, with a capacity of 61,000 DWT  for Trobrian Wisdom SA.The delivery happened at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), which is located in Dalian City, China and operated jointly with China COSCO Shipping Corporation Limited (China COSCO Shipping).The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products. Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…