COSCO Ship Holdings Archives - Maritime Shipping News

COSCO’s Q1 profit 26 times higher than 2020

29 April 2021

COSCO Ship Holdings (CSH), the container arm of the China COSCO group, said on 29 April that Q1 2021 net profit rose 26-fold, rising to CNY17.8 billion (US$2.71 billion), as the remarkable recovery in container shipping continued.

Revenue was up 80% to CNY64.84 billion (US$9.87 billion), with income from container shipping up 82% to CNY63.52 billion (US$9.67 billion). The Asia-Europe, Intra-Asia and Transpacific routes were the three highest contributors to the group’s revenue from container...

https://container-news.com/coscos-q1-profit-26-times-higher-than-2020/

COSCO Shipping Development acquires affiliate’s container business

14 January 2021

COSCO Shipping Development (CSD), the affiliated tonnage provider to COSCO Ship Holdings (CSH), will acquire four of the latter’s container-manufacturing subsidiaries, in order to expand its own container leasing business.

Formerly known as China Shipping Container Lines, CSD assumed its current name and scope after the COSCO and China Shipping groups merged in 2015.

In a filing to the Shanghai Stock Exchange on 13 January 2021, CSD said that it will fully acquire Dong Fang International...

https://container-news.com/cosco-shipping-development-acquires-affiliates-container-business/

Covid-19 hits COSCO Ship Holdings & CIMC earnings

30 April 2020

Domestic volumes were hit the hardest and weak demand was also a factor as COSCO Ship Holdings and China International Marine Containers both posted lower earnings for the first quarter of 2020, as the Covid-19 pandemic impacted on shipping demand during the period.

COSCO Ship Holdings, the COSCO group’s container shipping unit, announced that net profit for the first quarter of 2020 fell 57% to CNY292m (US$41 million), as container volumes fell 4% to 5.61 million TEU.

Chinese domestic routes saw...

https://container-news.com/covid-19-hits-cosco-ship-holdings-cimc-earnings/