Cosco Shipping News

26 Jan 2020

Hamburg Port Defends Service Losses

CMA CGM ships in Waltershofer harbour © HHM / Dietmar Hasenpusch

Germany's largest port, the Port of Hamburg not expecting reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk.From April, the Ocean Alliance NEU 5 service handled by EUROGATE Container Terminal Hamburg – CTH is being transferred to Antwerp, said a press release from the a sea port on the river Elbe in Hamburg, Germany, 110 kilometres from its mouth on the North Sea."This service will be run by the Ocean Alliance Partner, CMA CGM as FAL 3 with an approximate annual volume of 150…

24 Jan 2020

Coronavirus Places Shipping on High Alert

Ports in Singapore have started screening inbound travelers on passenger and commercial vessels for coronavirus symptoms (© hit1912 / Adobe Stock)

The Wuhan coronavirus outbreak has placed the shipping industry on high alert amid a rising death toll in China and reports that the fast-spreading illness is reaching new shores.The flu-like coronavirus, first identified in Wuhan, Hubei Province, China on December 31, has killed more than two dozen people in China and is believed to have infected more than 900 worldwide, according to several media reports. Cases have been confirmed in Beijing, Shanghai and Guangdong, and internationally in travelers returning from China to Japan…

16 Jan 2020

Kawasaki Delivers Newbuild Bulker

Image: Kawasaki Heavy Industries

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…

13 Jan 2020

Tomini Adds 3 New Ultramaxes to its Fleet

Image: Tomini Shipping

Dubai-based ship owner and operator Tomini Shipping has boosted its shipping fleet with the delivery and naming of three ultramax carriers.Three vessels named Tomini Entity (63,500 DWT), Tomini Felicity (63,300 DWT) and Tomini Tenacity (63,601 DWT) were delivered on 7 January 2020.According to the company statement, the naming ceremony was held at the COSCO Shipping Ltd, Hudong Shipyard, Shanghai, China. Shoaib Seedat, Head of New Buildings and Pradeep Bajpai, Head of Fleet Management attended from Tomini Shipping together with representatives of the builder and seller…

09 Jan 2020

Yamal LNG Gets New LNG Vessel

Image: Mitsui O.S.K. Lines, Ltd.

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…

06 Jan 2020

KHI Delivers Bulk Carrier Amis Treasure

Image: Kawasaki Heavy Industries Ltd.

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.

26 Dec 2019

COSCO Shipping and CNOOC Sign Pact

Image: COSCO Shipping

China’s largest offshore oil and gas producer China National Offshore Oil Corporation (CNOOC) and Chinese state-owned shipping and logistics giant China Ocean Shipping Company (COSCO) signed a strategic cooperation framework agreement.Capt. Xu Lirong, Chairman of COSCO Shipping, Wang Dongjin, Chairman of CNOOC, Mr. Fu Gangfeng, Director of the Board and President of COSCO shipping and Xu Keqiang, Vice President of CNOOC witnessed the signing of the agreement.Huang Xiaowen, Executive Vice President of COSCO Shipping and Ms.

19 Dec 2019

US Renews Waiver on COSCO's Dalian Tanker Unit

© Vladimir Serebrianskiy / Adobe Stock

The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.The waiver, good until Feb. 4, 2020, allows activities and transactions "ordinarily incident and necessary to the maintenance or wind down of transactions" including offloading of non-Iranian crude oil involving COSCO's Dalian Shipping Tanker Co, the U.S.

12 Dec 2019

Vado Gateway Container Terminal Opened

Image: APM Terminals

The international container terminal operating company APM Terminals (APMT) said it has opened a new container terminal in Vado Ligure, on the Italian Riviera, which will be capable of handling 900,000 TEUs of containerized cargo.APMT has a 50.1% share in the “Vado Gateway,” while Cosco Shipping Ports has a 40% share and Qingdao Port International has a 9.9% share. APMT said the project is part of the “New Silk Road.” Chinese firms have invested in more than a dozen European ports…

11 Dec 2019

Chinese Tanker Spurns Malaysian Inspections

An oil tanker, which shipping data showed was managed by a Chinese company under U.S. sanctions, refused to allow an inspection by maritime authorities while anchored in Malaysian waters, Malaysia's maritime agency said.Silvana III's commercial manager is Kunlun Shipping Co Ltd, according to shipping transparency website Equasis.org.Kunlun is one of several firms placed under U.S. sanctions this year for alleged involvement in transporting oil from Iran.The Malaysian Maritime Enforcement Agency (MMEA) said the Silvana III, which anchored off Kuala Kurau on Malaysia's west coast on Dec. 5, did not follow instructions to drop its ladder to allow officers to conduct checks."After several attempts to instruct the ship to drop ladder were not heeded…

02 Dec 2019

Qingdao Port Buys Stake in Cosco Abu Dhabi

Image: Qingdao Port

China-based Qingdao Port International Development has agreed to purchase a 33% stake in COSCO Shipping Ports (Abu Dhabi), a deepwater terminal located in Khalifa Port, for US$59m.Abu Dhabi Terminal is a joint venture company established in the United Arab Emirates.The investment, which will be made through Qingdao Port's Hong Kong subsidiary QDP International Development, will give the port operator a 30 percent holding in the CSP Abu Dhabi Terminal at Khalifa Port in which the Hong Kong-based firm holds a 90 percent stake…

27 Nov 2019

U.S. Assures Banks on COSCO Shipping Sanction Rules

AdobeStock / © Jose Gill

The Trump administration assured U.S. banks on Wednesday that they can temporarily process U.S. dollar transactions on Chinese shipping companies it had previously sanctioned for allegedly transporting oil from Iran, in a move meant to blunt the impact of the sanctions on global shipping markets.The administration slapped sanctions on Sept 25 on Dalian units of Chinese shipping company COSCO, a move that pushed global freight costs to record highs. The Treasury Department's Office of Foreign Assets Control, or OFAC, said in the guidance on Wednesday it "would not expect the intermediary U.S.

18 Nov 2019

CargoSmart Intros Connected Reefer Solution

Pic: CargoSmart

CargoSmart, the provider of global shipment management software solutions, announced its brand-new CargoSmart Connected Reefer Solution, a one-stop reefer cargo management solution for ocean carriers and shippers.The AI and IoT-enabled solution features end-to-end information transparency, including enhanced reefer container Pre-Trip Inspection (PTI) support, real-time container status monitoring updates, and predictive cargo arrival status. It allows carriers to offer best-in-class performance to shippers with lowered operating costs.

18 Nov 2019

Shell Marine Bags COSCO Lubes Contract

Pic: Shell Marine

Shell Marine has secured a contract to supply lubricants for five 62,000 dwt multipurpose pulp carriers that will be delivered to COSCO Shipping Specialized Carriers in 2019 and 2020.The lubricants contract, won in a competitive negotiation process, calls for delivery of the two-stroke engine cylinder oils Shell Alexia 100 and Shell Alexia 40 and the multi-functional lubricants Shell Melina S30 and Shell Argina S3 40.Alexia 100 and Alexia 40 are part of Shell Marine’s portfolio of cylinder oils protecting two-stroke engines across a full range of vessel operating profiles…

19 Nov 2019

Shell Marine Wins Contract for COSCO

Photo courtesy of Shell

Shell Marine won a contract to supply lubricants for five 62,000 dwt multi-purpose pulp carriers due delivery to COSCO SHIPPING Specialized Carriers Co Ltd in 2019 and 2020.The lubricants contract calls for delivery of the two-stroke engine cylinder oils Shell Alexia 100 and Shell Alexia 40 and the multi-functional lubricants Shell Melina S30 and Shell Argina S3 40. Alexia 100 and Alexia 40 are part of Shell Marine’s portfolio of cylinder oils protecting two-stroke engines across a full range of vessel operating profiles…

14 Nov 2019

Cosco Acquires Stake in Greek Intermodal Firm

Photo: Cosco Shipping Group

OceanRail Logistics, part of the Cosco Shipping Group, acquired 60% of the Greek railway company Piraeus Europe Asia Rail Logistics (PEARL) as part of its plan to develop its intermodal transport services network.OceanRail specializes in sea-rail intermodal transport with the Piraeus Port as the hub and related logistics business, while PEARL is a Greece-based company engaged in railway operations.The China-Europe Land-Sea Express Line, which starts from the Piraeus Port in Greece and expands to the hinterland of Central and Eastern Europe…

13 Nov 2019

Product Tanker Freight Rates Rebounds

Pic: TORM

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…

11 Nov 2019

$154.5Mln EIB backing for Greek Port

Image ©Piraeus

The European Investment Bank (EIB) on Monday formally agreed to provide 140 million euros (USD $154.5 million) to support expansion and upgrading of Piraeus Port, Greece's main port.The largest ever loan for port investment in the country by Europe’s long-term lending institution, will support the implementation of part of investments at the Port of Piraeus in a total investment plan of more than EUR 600 million. The 20-year loan was signed in Athens in the presence of Prime Minister of Greece Kyriakos Mitsotakis…

07 Nov 2019

BHP: No Impact from Sanctions on China's COSCO

Adobestock / © Lidian Neeleman

The sanctions imposed by the United States on subsidiaries of Chinese state-owned group COSCO have not affected the world's biggest dry bulk shipper BHP , the mining company said, after carrying out due diligence to check.In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese companies in late September for alleged involvement in moving crude oil from Iran.COSCO Shipping Tanker (Dalian)…

05 Nov 2019

Maritime History & the Panama Canal

Grace Lines COLOMBIA transit of Panama Canal. Source: U.S.Merchant Marine Academy Maritime Museum.

The Panama Canal is a strategic crossroads for maritime traffic, and is arguably one of the most important maritime developments in the past century. Here we take a deeper dive into the history behind that famous strip of waterway.The present canal, which saw its first vessel transits in 1914, along with possible alternatives through Nicaragua and Mexico, had actually been on the minds of merchants, explorers and military/political strategists since the Age of Exploration in early 1500’s.

04 Nov 2019

Boston’s Conley Terminal Receives Two New RTG Cranes

Photo: Massachusetts Port Authority

On Saturday, November 2nd, the Massachusetts Port Authority (Massport) received two new rubber-tired gantries (RTGs), increasing the number of RTGs at the Paul W. Conley Container Terminal to 16. Adding equipment is part of an $850 million investment to keep Conley Terminal competitive and efficient with truck turntimes averaging under 35 minutes. Another two RTGs were also delivered back in May. The Port of Boston contributes over $8 billion to the regional economy and supports more than 9,000 direct jobs.

29 Oct 2019

KHI Delivers Bulk Carrier Gramos

Pic: Kawasaki Heavy Industries

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)…

29 Oct 2019

Unipec Resumes Using COSCO Tankers

AdobeStock / © Jose Gill

China's Unipec has resumed using tankers owned by COSCO weeks after it suspended bookings due to U.S. sanctions on some of the Chinese shipping company's subsidiaries, trade sources said on Tuesday.Refinitiv data showed one COSCO owned tanker - belonging to a subsidiary not affected by the U.S. sanctions - was sailing to Asia with a cargo of oil chartered by Unipec, the trading arm of Asia's top oil refiner, Sinopec.Sinopec officials did not immediately respond to requests for comment after business hours.In one of the biggest sanctions actions taken by the U.S.

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