LIMA, April 29 (Reuters) – The Peruvian government is looking to avoid an international arbitration process which could be filed by Chinese port operator Cosco Shipping over a legal dispute regarding exclusivity rights to a…
https://gcaptain.com/china-cosco-may-seek-arbitration-over-exclusivity-rights-to-peru-mega-port/
Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by...
https://www.freightwaves.com/news/maersk-had-more-cash-than-it-knew-what-to-do-with-but-not-anymore
BERLIN, Jan 6 (Reuters) – German logistics firm HHLA HHFGn.DE and Cosco 601919.SS are close to finalising an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg’s port, HHLA said…
https://gcaptain.com/chinas-cosco-nearing-hamburg-port-deal/
by Markus Wacket (Reuters) The European Commission warned the German government last spring not to approve an investment by China’s Cosco into Hamburg’s port, German daily Handelsblatt reported on Friday,…
https://gcaptain.com/eu-warns-germany-against-china-port-buy/
By William Wilkes and Arne Delfs (Bloomberg) — Hamburg Hafen und Logistik AG said the German government shouldn’t block a Chinese acquisition of a stake in a container terminal, arguing that…
By Ann Koh (Bloomberg) — Asian shipping companies are offering mega bonuses to employees amid a boom in freight rates, with China’s state-owned giant Cosco Shipping Holdings Co. doling out as…
ATHENS, Oct 7 (Reuters) – Greece’s privatisations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession…
China Cosco Shipping executive vice president Wang Haimin has rubbished the idea that carriers can be sole service providers of end-to-end container supply chains.
Mr Wang (pictured) drew comparison between competitors Maersk and CMA CGM’s push to become fully integrated container logistics providers and, at the other end of the spectrum, MSC and Hapag-Lloyd’s apparent focus on pure port-to-port shipping.
“Cosco is somewhere in the middle,” he told delegates at the TPM …
The post Cosco chief...
By Florence Tan and Chen Aizhu SINGAPORE, Sept 27 (Reuters) – Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude out of...
By Jonathan Saul and Chen Aizhu LONDON/SINGAPORE, Sept 26 (Reuters) – China’s Unipec has made replacement bookings for four oil shipments from the Middle East Gulf after the United States imposed sanctions on the tanker subsidiaries of China’s COSCO, three shipping sources said on Thursday. The...