Cosco Shipping News

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…

12 Nov 2018

COSCO Shipping Ports, Navis Join to Launch Center of Excellence

Image: Navis

The terminal operating systems (TOS) provider announced a new partnership with COSCO Shipping Ports Limited (CSP), creating a joint Center of Excellence (CoE).Navis is a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain.Launched in September 2018, the center will deliver dedicated Navis and CSP resources for N4 implementation projects…

22 Oct 2018

Cosco Shipping Begins Shipment of Toyota Exhibits

Image: Cosco Shipping

China Ocean Shipping (Group) Company (Cosco Shipping) started shipment of Toyota exhibits, which will be displayed at the 1st China International Import Expo (CIIE), at Honmoku Pier, Yokohama in Japan.Cosco Shipping (Japan) and Cosco Shipping Lines (Japan) provided transport service for these exhibits, the company said in its press release.This first batch of exhibits, which are the latest models of Toyota, were loaded in flat rack containers and carried by M.V. China Shipping Tokyo from Yokohama to Shanghai.To ensure smooth transportation for this Expo…

25 Oct 2018

Shanghai Lingang Invests in Zeebrugge Port

Pic:  Port of Zeebrugge

Chinese investment by the Shanghai Lingang Overseas Development  in the port of Zeebrugge was officially signed in Brussels by Liu Jiaping, Chairman of Lingang, and Coens Joachim, CEO of Port of Zeebrugge.The agreement was signed in the presence of the prime minister of the People’s Republic of China, Ki Keqiang, and the prime minister of Belgium, Charles Michel.Port of Zeebrugge already announced the investment by the Chinese group Lingang in the Maritime Logistic Zone to establish a service and distribution park.

28 Oct 2018

Abu Dhabi Ports Acquires Damen Tug Boats for Khalifa Port

Pic: Abu Dhabi Ports

Abu Dhabi Marine Services “Safeen”, the marine services subsidiary of Abu Dhabi Ports, announces the purchase of two new state-of-the-art tugboats from Damen Shipyards Group aimed at supporting the AED 10 billion] expansion of Khalifa Port, Abu Dhabi Ports’ flagship deep-water port.The purchase of the DAMEN ASD 2411 tugboats was announced at the Abu Dhabi International Boat Show 2018. The contract was signed by Captain Adil Ahmed Banihammad, Acting Chief Marine Services Officer at Safeen, and Pascal Slingerland, Regional Sales Director for Damen Shipyards Group.

29 Oct 2018

COSCO Shipping Ports Revenue Surged by 62.6%

Photo: COSCO Shipping Ports

COSCO Shipping Ports said that its revenue  for the three months ended 30 September 2018  surged by 62.6% to US$253.0 million. The net profit for the same period rose by 11.8% to US$75.1 million.The  ports operator in a press release also said that the revenue for the nine months ended 30 September 2018 was surged by 73.5% to US$748.4 million where as adjusted net profit rose by 46.6% to US$244.1 million,For the nine months ended 30 September 2018, the Group’s total throughput increased by 20.6% to 87…

14 Oct 2018

Two VLCCs Join Navig8 VL8 Pool

Pic: Navig8

Navig8 VL8 pool is to take delivery of two VLCCs from Cosco Shipping Energy Transportation (CSET). The VL8 pool is one of the largest VLCC tanker pools in the world managed by Navig8.The 322,860dwt Xin Lian Yang (built 2014) will deliver to the pool later this month, with a second modern unit to be delivered during November."We are extremely excited to have received CSET's commitment and welcome CSET as a partner," said Jason Klopfer, Navig8 managing director.This increases the…

19 Nov 2018

Cosco Plans Significant Newbuild Program

Cosco Shipping Specialized Carriers To Build Up To Nine Multi-Purpose Wood-Pulcarriers.The Cosco Board of Directors announced that the firm ingtends to build as many as nin multi-purpose wood-pulcarriers. The pricetag for each will be approximately 232.6 Million YUAN ($33.50 million.Reporting by the Reuters Hong Kong newsroom.

19 Oct 2018

Damen to Supply Two Tugs to Safeen

From left to right: Pascal Slingerland (Regional Sales Director, Damen Shipyards Group), Captain Adil Ahmed Banihammad (Chief Marine Services Officer, Safeen). Photo: Damen Shipyards Group

Damen Shipyards Group has signed a contract with Abu Dhabi Ports and its subsidiary Abu Dhabi Marine Services (Safeen) for the supply of two new Damen ASD Tugs 2411.The contract was signed by Captain Adil Ahmed Banihammad, the Acting Chief Marine Services Officer at Safeen, and Pascal Slingerland, Regional Sales Director for Damen Shipyards Group. Delivery of both vessels is due within three months.Abu Dhabi Ports owns and operates 11 ports and managing over 55,000 vessel calls each year. The ASD Tugs 2411 will bring additional vessel handling capabilities to the group.

21 Nov 2018

Cosco-PSA Terminal JV Adds Two New Berths in Singapore

Pic: PSA Singapore Terminals

China's Cosco Shipping Ports and PSA Corporation signed a memorandum of understanding (MoU) for the addition of two new berths at the Cosco-PSA Terminal in Singapore.With the launch of the two new berths, CPT will be equipped with five mega-vessel berths, increasing its annual handling capacity from 3 million TEUs of the current three berths to about 5 million TEUs.The new berths will strengthen CSP’s presence in Singapore and support the needs of Cosco Shipping group with the advent of mega-vessels and megaalliances in the shipping industry.

06 Nov 2018

Global Shipping Business Network on Blockchain Platform Launched

Shipping industry executives initiate blockchain consortium at a signing ceremony. Photo: CargoSmart Ltd.

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…

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 Feb 2019 - Ferry Builders

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