Cosco Shipping Group News

Lloyd’s Register (LR), in collaboration with COSCO Shipping Group, Shanghai Jiao Tong University and the University of Southampton, has established the International Maritime Future Technologies Innovation Center.The new virtual center aims to advance research and development in low- and zero-carbon maritime technologies, intelligent ship systems and digital innovation.The center will serve as a global platform for collaboration between industry and academia, supporting the sector’s transition towards a smarter and more sustainable future.

On January 10, a group of over 240 shipping executives attended seminar in Shanghai on "Contributing to the China Solution to Cross the Carbon Threshold."The aim was to further build consensus on industry development needed to respond to the challenges brought by the new EU shipping carbon tax fuel regulations.Zhang Yong, deputy general manager of COSCO Shipping Group, shared four suggestions: first, focus on responsible investment and strive to increase low-carbon increments…

The U.S. Department of Defense released on the Federal Register on January 7, 2025 a "Notice of Chinese military companies operating in the United States." A trio of prominent maritime companies Cosco Shipping Holdings Co.; China State Shipbuilding Corp. and China Shipbuilding Trading Co. made the list, as "the Deputy Secretary of Defense has determined that the entities listed ... qualify as “Chinese military companies” in accordance with the William M. (Mac) Thornberry National…

Varamar DMCC has entered into a strategic commercial partnership with ASL Shipping & Logistics Pvt Ltd, a COSCO Shipping Group company,  with the aim of helping both companies to strengthen their respective trades.Varamar, a liner and tramp carrier that specializes in breakbulk, dry-bulk, oversized, and containerized cargo, has historically focused on trade lanes connecting Europe with the Middle East, Asia, and the Far East, while also trading to Africa and the Americas. The recent expansion of Varamar to 10 international branches…

OOCL’s 24,188 TEU ultra-large container ship OOCL Felixstowe has been officially named at COSCO Dalian Kawasaki shipyard.The Oriental Felixstowe is the fourth of 12 ultra-large container ships which are among the world’s largest. They are being built by COSCO Shipping Heavy Industry for OOCL, and the third, OOCL Piraeus, entered operation on May 30.Yang Zhijian, Chief Executive Officer of OOCL, said: “We ordered this series of ultra large container vessels not only to provide better services to our customers…

Hong Kong-headquartered shipping company Orient Overseas Container Line Ltd. (OOCL) welcomed to its fleet its first 24,188 TEU mega vessel, OOCL Spain, officially named at a ceremony held Thursday at Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) in Nantong, China.The ultra-large containership is the lead vessel in a series of six OOCL ordered from NACKS in 2020.The first of OOCL’s vessels to exceed the 24,000 TEU threshold, OOCL Spain is 399.99 meters long and 61.3 meters wide…

Classification society DNV said it has recently approved several projects for digital infrastructure solutions developed by COSCO, Kongsberg Digital and Samsung Heavy Industries (SHI).According to DNV, digitalization of the maritime industry is set to radically enhance the operational efficiency, safety and environmental performance of ships, but right now is taking place in a fragmented way, with no pan-industry alignment on data infrastructure reliability and data quality in compliance with global standards.As ships get smarter and increasingly packed with sensors…

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.

MAN Energy Solutions said its Chinese license CMP has won a series of new small-bore, four-stroke orders within the Chinese inland-and-coastal segment. The orders are for MAN 21/31, 27/38 and 23/30H types and stem in great part from the Chinese government establishing new, impending, emission protocols for the segment with its GB15097 regulation – commonly known as C1 and C2.Finn Fjeldhøj, Head of Small-Bore, Four-Stroke Engineering, MAN Energy Solutions, said, “With the introduction of C1 and C2…

U.S. offshore vessel provider Seacor Marine will buy the remaining 50% stake in Seacosco from China's Cosco.Seacor will pay $28.15 million in installments, and the transaction is expected to close in June 2020.With the acquisition, Seacor will take ownership of eight Rolls-Royce designed platform supply vessels from COSCO Shipping Heavy Industry (Guangdong) Co., Ltd.Six of the PSVs are of UT 771WP design, with 4,400 tons deadweight capacity, and two are of UT 771CD design, with 3…

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, machinery specifications and fuel sulfur contents, now and after the introduction of IMO’s global sulfur cap from January 1…

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, covering North Macedonia, Serbia, Hungary, Austria, Czech Republic and Slovakia, is the third new trade corridor from the Far East to Europe and effectively connects the 21st Century Maritime Silk Road and the Silk Road Economic Belt.In 2019…

The largest trimodal  container terminal in the European hinterland is being developed in the Port of Duisburg.Duisburger Hafen AG (duisport) is set to build a US$111.2mln  new 220,000 m² trimodal container terminal on the site of its current coal island in response to a sharp decline in coal handling as a result of the energy transformation.The trimodal terminal is to be developed with duisport’s intermodal partners COSCO Shipping Logistics, Hupac SA and HTS Group and aims to handle the port’s booming trade with China in particular.This is duisport's response to the sharp decline in coal handling resulting from the energy transformation. In the future, duisport will instead use the coal island in particular to handle the booming trade with China.

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, develop high-end warehousing business and extend the upstream and downstream industries.Leveraging on Nansha Free Trade Zone’s policy and favourable geographical position…

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 Zhoushan.Half of the cash payment will be funded in the first quarter of 2019 with the balance per vessel to be paid upon physical delivery of each vessel. The parties currently expect the vessels to be delivered on September 30…

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. Established in 2003, the joint venture terminal by Cosco Shipping Ports and PSA has served as a major hub for container shipping in the region.The new berths…

China’s Cosco Shipping Technology (CS Tech) has teamed up with Japan’s Furuno Electric and Heisei Trading to form a joint venture in the maritime navigation and communications market.The Shanghai based Cosco Shipping Furuno Navigation Technology will provide equipment, systems and related services for domestic and international shipping fleets as well as inland waterways vessels. The consortium will also examine future research possibilities concerning safer, more secure and efficient ship operation.Yukio Furuno…

Orca ESS from Corvus Energy has been selected to provide battery power for 3 additional SEACOR platform supply vessels. Corvus Energy is pleased to announce that it has been selected by SEACOR Marine and Rolls-Royce to provide lithium ion-based energy storage systems (ESS) for 3 new platform supply vessels (PSVs) being fitted with hybrid power systems. The brand-new PSVs were acquired by SEACOSCO, a joint venture between SEACOR and China Cosco Shipping Group (COSCO), and will be retrofitted into hybrid vessels.

Six offshore platform supply vessels (PSVs) built and then laid up by the Cosco Guangdong yard in China will be equipped with battery-powered energy systems from Rolls-Royce Commercial Marine before going to work for SEACOSCO. The six vessels are among eight that were laid up at the shipyard after being ordered in 2013 and 2014 that were recently taken over by SEACOSCO, a joint venture between SEACOR Marine Holding and China Cosco Shipping Group. The vessel’s new owners have decided to give six of the vessels an environmental upgrade, with an option for a further two.

Offshore services vessel operator SEACOR Marine Holdings Inc. said it has formed a jointly owned company with affiliates of the world’s largest ship owner, COSCO Shipping Group. The Marshall Islands company, SEACOSCO Offshore LLC, entered into contracts for the purchase of eight Rolls-Royce designed new construction platform supply vessels (PSV) from COSCO Shipping Heavy Industry (Guangdong) Co., Ltd. Six of the PSVs are of UT 771WP design (4,400 tons deadweight), and two are of UT 771CD design (3,800 tons deadweight).

The outlook for global container port demand growth is now more optimistic, and Chinese players are on the acquisition trail in an aggressive and highly confident manner, said a report from Drewry. Major M&A deals are changing the landscape, with more to come, according to the Global Container Terminal Operators Annual Report 2017, now in its 15th year of publication by global shipping consultancy Drewry. Drewry’s container port demand forecast is more positive than in last year’s report, exhibiting a 4 percent CAGR and adding a further 152 million teu of port throughput to the global total by 2021. This is a consequence of improved port throughput growth rates in the second half of 2016 and into 2017, and a more positive general global economic outlook.

The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance. The MOU was signed by Athanasios Liagkos Executive Management Consultant & BoD member of the PPA SA and the Chairman of Shanghai International Port Group, Chen Xuyuan. This development further highlights Piraeus's strategic position on the world map and especially on the New Silk road. The sectors of cooperation mentioned in the Memorandum are: Project Studies, Staff Training, Information Exchange, Technical Assistance, etc.

COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut overcapacity, since the global market is unlikely to see a notable upturn anytime soon. Under the plan, its shipyards in Nantong, Zhoushan and Dongguan will be shut down. The company will keep manufacturing bases in Qidong and Dalian as they are capable of producing high-end offshore engineering products such as polar ships, oil drilling platforms and cattle carriers. A few months ago, China Cosco Shipping Group has integrated all of its shipbuilding assets into one unit – Cosco Shipping Heavy Industry (CSHI).