Cosco Container Lines Co News

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.

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.

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.

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…

State-owned shipping giants China Ocean Shipping Co. (Cosco Group) and China Shipping Group (CSG)  are in advanced negotations on combining their container shipping businesses, reports WSJ. Rumors of a merger deal between the two have been floating for half a year. Both companies suspended trading their shares at the start of August. Discussions are complex and would require government and regulatory approval that has proved difficult to predict. If successful, the deal would create the world’s fourth largest container operator by capacity. In a statement to the Shanghai Stock Exchange, China COSCO  said after market close on October 13 that its trading halt would not last more than another month and it will announce important strategic developments within five trading days.

The German navigation system manufacturer Raytheon Anschütz announced new contracts for the delivery of Synapsis Integrated Navigation Systems (INS) to five 14,500TEU Container Vessels built at Hudong-Zhonghua Shipbuilding Co.Ltd. The new vessels will be owned by Shanghai-based COSCO Container Lines Co.Ltd. and are planned to enter operation from September 2016 to December 2017. Raytheon Anschütz has won the contracts through its Shanghai Representative Office. Each ship set will consist of X- and S-band radars and seven Synapsis NX Multifunctional Workstations in various configurations.

China COSCO Holdings disassembled four vessels including two container vessels and two bulk carriers in April 2015, with the aggregate capacity of 261.8 thousand deadweight tons. The company realized losses from the disassembly of the vessels of approximately RMB59 million  (USD9 million), says a statement from the COSCO. The units were sent for disassembling from 1 April 2015 to 30 April 2015. The two decommissioned container vessels ((Xiu He and Ya He) )were previously owned by COSCO Container Lines Co., Ltd (COSCON). The two decommissioned bulk carriers (Tianfu Hai and Ming Hai) were previously owned by China COSCO Bulk Shipping (Group) Company Limited (COSCO Bulk), both wholly-owned subsidiaries of the company.

MOL Liner Ltd. (MOL), Evergreen Line and COSCO Container Lines Co., Ltd. today announced the launch of a weekly direct service from Asia to West Africa, branded the WA1. The new express link will further enhance each company's service network to cover strategic markets in Africa to meet increasingly diverse commercial requirements. The jointly operated 12-vessel service will commence from Shanghai on June 2, 2014, with six of the ships being operated by MOL, four by Evergreen Line and two by COSCON.

Seaspan Corporation announce that it accepted delivery of a 13100 TEU containership, the COSCO Faith. The new containership, which was constructed by Hyundai Heavy Industries Co., Ltd., is Seaspan's second delivery in 2012 and expands the Company's operating fleet to 67 vessels. The COSCO Faith is on charter to COSCO Container Lines Co., Ltd. ("COSCON") under a twelve-year, fixed-rate time charter. The ship is the sixth of eight 13100 TEU sister ships and the 16th of a total of 18 vessels to be chartered by Seaspan to COSCON. Seaspan is a leading independent charter owner and manager of containerships, which it charters primarily pursuant to long-term fixed-rate time charters to major container liner companies.

Seaspan Corporation (NYSE:SSW) accepted delivery of another 8500 TEU containership named the COSCO Malaysia from Hyundai Heavy Industries Co., Ltd. on May 19, 2010. This is Seaspan's seventh delivery in 2010, expanding the company's operating fleet to 49 vessels. The COSCO Malaysia is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. The COSCO Malaysia is the fourth of eight 8500 TEU sister ships and the sixth of a total of eighteen vessels to be chartered by Seaspan to COSCON.

Seaspan Corporation (NYSE:SSW) accepted delivery of an 8500 TEU containership named the COSCO Philippines from Hyundai Heavy Industries Co., Ltd. on April 23, 2010. This is Seaspan's fifth delivery in 2010, expanding the company's operating fleet to 47 vessels. The COSCO Philippines is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. The COSCO Philippines is the third of eight 8500 TEU sister ships and the fifth of a total of eighteen vessels to be chartered by Seaspan to COSCON.

Seaspan Corporation (NYSE:SSW) announced the delivery of its 44th and 45th vessels, the Guayaquil Bridge and the COSCO Japan. The Guayaquil Bridge, a 2500 TEU vessel delivered on March 5, 2010, was built by Jiangsu Yangzijiang Shipbuilding Co., Ltd. It is on charter to Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan under a ten-year, fixed-rate time charter. The Guayaquil Bridge is the first of seven Seaspan vessels to be chartered to K-Line. The 8500 TEU COSCO Japan, which was constructed by Hyundai Heavy Industries Co., Ltd., was also delivered on March 5, 2010. The COSCO Japan is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. It is the third of eighteen vessels to be chartered by Seaspan to COSCON.

According to Bloomberg, Seaspan Corp., will lease eight container vessels to a unit of China Cosco Holdings Co. for $1.9b. Cosco Container Lines Co., will pay a daily fee of $55,000 a vessel during the 12-year contract, Seaspan said. The Seaspan vessels are designed to carry 13,100 standard containers measuring 20 ft. in length, among the largest ships of their kind. They are scheduled for delivery in 2011. Source: Bloomberg

Seaspan Corporation announced that it has agreed to purchase two new building vessels from affiliates of Conti Holding GmbH & Co. KG of Germany, increasing Seaspan’s total fleet to 25 vessels. Seaspan will acquire the two 3,500 TEU vessels upon their delivery in February and July 2007 respectively from Zhejiang Shipbuilding Co. Ltd. in China. The total delivered cost is expected to be approximately $50 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 vessels with Cosco Container Lines Co., Ltd. at $19,000 per day.