Cosco Shipping News

05 Apr 2019

Jan De Nul Orders Jack-up Installation Vessel

(Image: Jan De Nul)

Luxembourg based Jan De Nul Group (JDN) announced Friday it has ordered its third offshore jack-up installation vessel, due for delivery from Chinese shipyard COSCO Shipping Heavy Industry in 2022.The new vessel, Voltaire, is designed to transport, lift and install offshore wind turbines, transition pieces and foundations, and will have better operational limits compared to existing jack-up installation vessels, JDN said.For many current installation vessels involved in the construction of offshore wind farms…

04 Apr 2019

Cosco Intros Guangzhou Supply Chain Platform

Photo:Cosco Shipping Ports

The global ports operator Cosco Shipping Ports signed investment agreement of Cosco Shipping Ports Supply Chain Project with Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau.The Cosco Group company said that it plans to develop phase I of terminal extended business in the land near Nansha Stevedoring Corporation Limited of Port of Guangzhou and Guangzhou South China Oceangate Container Terminal Company Limited, in order to develop port supply chain platform…

04 Apr 2019

OOIL, JD, Cosco JV for Logistics

Image: Orient Overseas (International) Limited

Gold Talent, Cosco Shipping Logistics and JD Logistics  entered into a cooperation agreement to jointly invest in online logistics platform EShipping through a joint venture (JV) formation.Gold Talent is a wholly-owned subsidiary of Hong Kong-based logistics major Orient Overseas (International) Limited (OOIL). Cosco Shipping Logistics is an affiliate of Chinese state-owned Shipping and logistics services supplier company China Cosco Shipping Corporation Limited. JD Logistics…

03 Apr 2019

COSCO Calls on Port of Liverpool

Pic: Port of Liverpool

China's COSCO Shipping has confirmed it will call at the port of Liverpool after a successful trial last October to offer its clients more efficient services between Britain and Canada."The world’s top five shipping lines are all now calling at Liverpool following confirmation that Chinese giant COSCO Shipping is to ship via the port," said a statement from the UK's most centrally-located container port.COSCO Shipping will take slots on an existing Canadian service via Montreal with OOCL.

01 Apr 2019

COSCO Signs LSFO Supply Deal with Petro China

Pic: COSCO Shipping Lines

Chinese state-owned Shipping and logistics services supplier company COSCO Shipping Lines has signed a low sulfur fuel oil (LSFO) supply agreement with Double Rich Limited, a subsidiary of China Marine Bunker (Petro China).According to the agreement, Double Rich limited will provide the Shipping line with ‘fuel oil with sulphur content not exceeding 0.5% m/m’ conforming to the regulation of International Maritime Organization (IMO).By keeping promoting and applying diverse and advanced emission reduction technology and optimizing management pattern…

29 Mar 2019

COSCO Shipping Flags Risks From Oil Price, Trade Dispute

Photo courtesy of COSCO

China's COSCO Shipping Holdings Co Ltd said trade frictions and high oil prices pose risks for the global shipping industry this year, after confirming on Friday that its net profit for 2018 fell by more than half.The state-owned company, the world's third largest container shipping line, said net profit attributable to shareholders slid 53.8 percent to 1.2 billion yuan ($178.83 million) last year from 2.7 billion yuan a year earlier.It had warned profit would slump in January.Revenue rose 33.6 percent as demand for its container shipping and terminal business remained strong, COSCO said.

25 Mar 2019

New COSCO Service Between UK, Europe, Russia

Pic: DP World Southampton

Chinese state-owned shipping and logistics services supplier company COSCO Shipping Lines announced a new COSCO feeder service from St Petersburg, Russia will begin calling at DP World Southampton."COSCO is to introduce a new weekly call at DP World Southampton, as part of a rotation including St Petersburg, Russia; Kotka, Finland; Southampton, UK; and Rotterdam, Netherlands," said a press release.The news comes after COSCO confirmed in February that DP World Southampton will be a permanent call on its feeder service.

18 Mar 2019

Kawasaki Delivers Bulk Carrier Divinegate

Image: Kawasaki Heavy Industries

Japanese public multinational corporation Kawasaki Heavy Industries (HKI)announced that it delivered the bulk carrier Divinegate for Indigo Marine Shipping at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS).According to a release, the bulk carrier has a capacity of 61,000 DWT and 199.90 meter length. Its gross tonnage is 34,508. Its main engine is one set of MAN B&W 6S50ME-B9.3-TII diesel engine with maximum continuous output: 8,130 kW at 108 rpm.Dalian COSCO KHI Ship Engineering Co is located in Dalian City…

04 Mar 2019

Kawasaki Heavy to Build Ship in China

Image: Kawasaki Heavy Industries, Ltd.

Japanese public multinational corporation Kawasaki Heavy Industries (KHI) has completed the construction of a new dock in northeast China, as the company streamlines costs amid competition from South Korean rivals.According to a press note from the manufacturer of ship and offshore structure, KHI started construction of the first ship at this new dock at Dalian COSCO KHI Ship Engineering (DACKS) in Dalian City, Liaoning Province, China.DACKS is jointly operated by Kawasaki and China COSCO Shipping Corporation Limited (China COSCO Shipping)…

01 Mar 2019

RAstar 3200 Tugs Dazzle at Blessing Ceremony

Display of SST Orca’s fi-fi 1 classed off-ship fire-fighting system (Photo courtesy of BC Shipping News)

On February 13, the two new RAstar 3200 escort tugs SST Grizzly and SST Orca for SAAM SMIT TOWAGE CANADA Inc. (SST Canada) were the toasts of a blessing ceremony in Vancouver Harbor.Designed by Robert Allan Ltd and built at Cheoy Lee Shipyards, these two significant additions to the SST Canada fleet were showcased to guests aboard the luxury harbor cruising vessel Pacific Yacht. Distinguished guests for the evening included local First Nations leaders, valued customers and trusted suppliers…

20 Feb 2019

Cosco, Bolloré in Logistics Partnership

From left to right - Cosco Shipping Lines: Wang Kunhui (General Manager of Latin America/Africa Trade division), Tao Weidong (Deputy Managing Director), Chen Shuai (Deputy Managing Director), Wang Haimin (Managing Director) - Bolloré Transport & Logistics: Cyrille Bolloré (CEO), Philippe Labonne, (Deputy CEO), Michel Sibony (Head of Middle Office) et Sébastien Beuque (Shipping Director). Photo: Cosco Shipping  Lines

China’s container shipping company Cosco Shipping Lines signed a strategic Memorandum of Understanding (MoU) with Africa-based Bolloré Transport & Logistics to develop new opportunities in transport, logistics and port infrastructure.The two companies, partners for over 20 years, want to densify their commercial relations while exploring new opportunities for cooperation in transport, logistics and port infrastructure.Through this agreement, the two companies have agreed to explore…

12 Feb 2019

Piraeus Port Signs MoU with Italian Ports

Image: Piraeus Port Authority S.A.

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management…

05 Feb 2019

Foresight Takes Delivery of New Jackup Drilling Rig

Image: Foresight Offshore Drilling

London-based international law firm Watson Farley & Williams (WFW) advised Foresight Group of Dubai on the delivery arrangements relating to a LeTourneau Super 116E jackup drilling rig named “VIVEKANAND 3”.The rig was constructed in China by Cosco Shipping Heavy Industry Dalian Shipyard (“Cosco Dalian”) and is one of three jackup rigs constructed, delivered and employed over the last three years; a great achievement given the current challenges faced by the offshore drilling market.VIVEKANAND…

28 Jan 2019

Orient Overseas Container Line Reports 10% Revenue Growth

Pic: Orient Overseas Container Line

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year."Loadable capacity increased by 7.4%. The overall load factor was 0.8% lower than the same period in 2017. Overall average revenue per teu increased by 3.4% compared to the same period last year," it said in a press release.For the fourth quarter of 2018 (ended 31st December 2018)…

25 Jan 2019

Prosafe Emerges as Lowest Bidder in Brazil Offshore Tender

Image: Prosafe

European owner and operator of semi-submersible accommodation vessels Prosafe has submitted the largest bid in two online auctions for the supply of safety and maintenance support vessels to Brazil."Prosafe has participated in an online auction for the supply of safety and maintenance support vessels to Brazil and on conclusion of the auction achieved first place commercial ranking," said a statement from the operator of offshore accommodating units known as flotels.The auction…

24 Jan 2019

Cosco Shipping Buys 60% Stake Peru's Chancay Terminal

Pic: Cosco Shipping

Global ports operator Cosco Shipping Ports acquiring 60% stake in Terminales Portuarios Chancay (Chancay Terminal) from Volcan Compañía Minera for a total consideration of US$225million.Zhang Wei, Vice Chairman and Managing Director of Cosco Shipping Ports and  José Picasso, Chairman of Volcan signed the agreement on behalf of the two parties.The ceremony was witnessed by Mercedes Aráoz, Vice President of Peru,  Xiao Yaqing, Chairman of State-owned Asset Supervision and Administration Commission of the State Council…

17 Jan 2019

Seacor Marine Acquires Three Cosco PSVs

Image: DNV GL

The offshore marine support vessels operator Seacor Marine Holdings announced it has entered into definitive agreements to acquire three platform supply vessels (PSVs) from Cosco Shipping Heavy Industry, an affiliate of Cosco Shipping Group, the world’s largest ship owner.Aggregate consideration for the vessels will be approximately $46 million, of which 30% will be paid in cash and 70% will be paid under a four-year deferred payment agreement between Seacor   Marine and Cosco…

16 Jan 2019

Ocean Alliance Unveils Day 3 Product

Pic: CMA CGM

The world’s largest operational agreement between shipping companies Ocean Alliance -CMA CGM, COSCO SHIPPING, Evergreen and OOCL - has announced the launch of their Ocean Alliance Day 3 Product starting April 2019."Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, signs with his partners the launch of Ocean Alliance Day 3 Product, which will start in April 2019," said a press release from the shipping group.On the occasion of this announcement, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

11 Jan 2019

Cosco Opens New International Hainan-ASEAN Liner Route

Pics: COSCO Shipping

The New International Land-Sea Trade Corridor (ILSTC) and COSCO Shipping  'Hainan-ASEAN (Singapore)' Liner Route, co-hosted by Hainan Provincial People’s Government and COSCO Shipping, was launched at Hainan Yangpu Xiaochantan Terminal owned by Hainan Harbor & Shipping Holding.Hainan Governor Shen Xiaoming announced the launch of the maiden voyage.The “Hainan-ASEAN (Singapore)” Liner Route opens a direct passage through which goods from China’s western regions can be shipped southward to Singapore via Yangpu Port…

02 Jan 2019

Cosco Shipping Ports Buys Stake in Beibu Gulf Port

Pic: Cosco Shipping Ports

Hong Kong-based Cosco Shipping Ports has purchased a 4.34% stake in Shenzhen-listed Beibu Gulf Port Co for a total consideration of approximately RMB 470 million (USD 68 mln)."By subscribing the shares, Cosco Shipping Ports aim to further strengthen the cooperation with Beibu Gulf Port, and lay a foundation for the Company to participate in the integration of Guangxi ports. At present, Cosco Shipping Ports teams up with Beibu Gulf Port in operating Qinzhou International Container Terminal Co.…

31 Dec 2018

Martime Propulsion: New Solutions Meet New Emission Demands

With a robust engine block designed for continuous-duty operation and long life, and a single cylinder head with four valves per cylinder, the Cummins X15 marine engine provides reduced fuel consumption without reduced performance. The X15, which can be used in both commercial and recreational marine applications, is available as a propulsion engine and as an auxiliary engine. (Photo: Cummins Inc.)

Marine propulsion manufacturers are not just responding to but are anticipating tighter performance demands from the U.S. EPA  and the IMO by introducing both new and upgraded systems based on state-of-the-art propulsion technologies. Tom Mulligan reviews the latest engine product launches.AIP for MAN cryo Liquid Hydrogen Fuel-Gas systemMAN Cryo, a subsidiary of MAN Energy Solutions, has developed a marine fuel-gas system for liquefied hydrogen in cooperation with Fjord1 and Multi Maritime 0f Norway.

11 Dec 2018

Cosco , Abu Dhabi Ports Open New Terminal at Khalifa Port

Image: Abu Dhabi Ports

Abu Dhabi Ports on Monday inaugurated the new Cosco Shipping Container Terminal at Khalifa with a capacity of 2.5 million TEUs (twenty-foot equivalent units).The new CSP Abu Dhabi Terminal, which includes the largest container freight station in the Middle East, is expected to boost Abu Dhabi’s position as a global maritime hub and support China’s One Belt One Road initiative.CSP Abu Dhabi Terminal is the first international green-field subsidiary of Cosco Shipping Ports; water…

06 Dec 2018

FSL Trust Orders Two LR2 Tanker at Cosco yard

Image: First Ship Lease Trust

Singapore-based First Ship Lease Trust (FSL Trust) Management has entered into a letter of intent with China’s Cosco Shipping Heavy Industry (Yangzhou) to order two LR2 product tankers, fitted with scrubbers, for around $97.2m.The two 114,000 dwt Tier III LR2 product tankers are expected to be delivered to the Purchasers in November 2020 and January 2021 respectively, said a stock exchange annoucement from the business trust which owns a fleet of vessels across major shipping sub-sectors."The newbuilding acquisition is being undertaken as part of the renewal of FSLT’s aging fleet.

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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