COSCO Shipping Holdings

Cosco orders twelve 14,000 TEU methanol vessels

Cosco Shipping Holdings has received shareholder approval to order a series of twelve methanol-fuelled container ships of 14,000 TEU capacity.

The delivery of the vessels is expected to commence in mid-2027 and be completed by early 2029, while the cost of every boxship is estimated at US$179.5 million.

The vessels will be built by the Chinese shipyard Cosco Shipping Heavy Industry (Yangzhu).


jQuery(document).ready(function(){ jQuery(‘#dd_a06fed19cda3c6bc6055c7c43fca7db6’).on(‘change’,...

https://container-news.com/cosco-orders-twelve-14000-teu-methanol-vessels/

COSCO Shipping Holdings: Τζίρος $9,5 δισ. και αύξηση εσόδων 80%

Η συνολική διακίνηση των λιμένων της CSH έφτασε τα 107,3 εκατ. teu, παρουσιάζοντας αύξηση 7,1% σε ετήσια βάση, οδηγώντας σε έσοδα 7,9 δισ. γουάν, σημειώνοντας αύξηση 6,5% σε σχέση με το σε σχέση με το προηγούμενο έτος

https://www.newmoney.gr/roh/palmos-oikonomias/nautilia/cosco-shipping-holdings-tziros-95-dis-ke-afxisi-esodon-80/

Cosco: Έδωσε παραγγελία ναυπήγησης 12 container vessels αξίας $2,2 δισ. με καύσιμο μεθανόλη

Το παγκόσμιο βιβλίο παραγγελιών πλοίων μεταφοράς εμπορευματοκιβωτίων έχει φτάσει τα 179 πλοία από την αρχή του έτους

https://www.newmoney.gr/roh/palmos-oikonomias/nautilia/cosco-edose-parangelia-nafpigisis-12-container-vessels-axias-22-dis-me-kafsimo-methanoli/

COSCO financial figures plunge in 2023

COSCO Shipping Holdings estimates that it suffered significant decreases in profit in the first half of 2023, compared with the same period last year.

According to the Japan International Freight Forwarders Association (JIFFA), it is expected that the company’s Earnings Before Interest and Taxes (EBIT) plunged 74.1% year-on-year to US$3.4 billion and net profit declined by 74.4% to US$2.7 billion.

Additionally, in the second quarter of the year, it is estimated that COSCO’s EBIT reached US$1.9...

https://container-news.com/coscos-financial-figures-plunge-in-2023/

COSCO pays over US$800 million for minority stake in COFCO Fortune

COSCO Shipping Holdings has agreed to acquire a 5.8% stake in COFCO Fortune, a food processing and transportation subsidiary of the Chinese state agricultural conglomerate COFCO, for US$814 million.

The transaction is part of a COFCO Fortune capital enhancement strategy, according to a recent stock exchange filing by COSCO SHIPPING Holdings.

Meanwhile, COFCO and other parts of the company will maintain a combined 69.8% ownership in COFCO Fortune following the conclusion of the capital raising...

https://container-news.com/cosco-pays-over-us800-million-for-minority-stake-in-cofco-fortune/

COSCO’s net profit skyrockets by over 74%

The Chinese shipping giant COSCO SHIPPING Holdings has announced that its net profit attributable to equity holders for the first half of the year is expected to be approximately US$9.6 billion, translating to a 74.45% increase compared to the same period of 2021.

At the same time, the company’s earnings before interest and taxes (EBIT) for the first six months of 2022 are expected to reach US$14 billion, marking an outstanding growth of 92% year-over-year.

“In the first half of 2022, the supply...

https://container-news.com/coscos-net-profit-skyrockets-by-over-74/

Wan Hai and COSCO give generous bonuses in Evergreen’s footsteps

Wan Hai Lines and COSCO Shipping Holdings have reportedly paid their staff bumper bonuses, as publicity surrounding Evergreen Marine Corporation’s 40-month bonus continues.

Taiwanese media, citing one of Wan Hai’s subcontractors, have reported that Wan Hai’s staff will receive a bonus comprising a full-year’s salary and an additional TW$1 million (US$36,093).

The source claimed that initially, Wan Hai planned to offer a lower bonus, but decided to increase the bonus by at least 30% after seeing...

https://container-news.com/wan-hai-and-cosco-give-generous-bonuses-in-evergreens-footsteps/

US senator proposes $125M in grants to reroute container ships

Lawmakers in both chambers of Congress have introduced legislation aimed at compensating vessel owners that want to divert ships from the U.S. West Coast to less-congested Gulf and East Coast ports.

The Supply Chain Emergency Response Act, introduced this week by Sen. Rick Scott, R-Fla., and Rep. Carlos Gimenez, R-Fla., redirects $125 million of unspent money from the CARES Act to help owners of vessels currently anchored off the U.S. West Coast to transit through the Panama Canal and dock at...

https://www.freightwaves.com/news/us-senator-proposes-125m-in-grants-to-reroute-container-ships

Market Insight: Fuelling anger, the box lines add insult to injury

Totally expected.
“F*ckers”
I couldn’t possibly repeat in full the feedback received from a couple of mid-sized shippers who vigorously complained about the arrogant behaviour and profit-driven actions of the box lines – to be sure, it wasn’t something you’d want your kids to hear.
Which – to reiterate, lest you forgot the “welcome 2021” warning – was indeed totally predictable if you read Premium‘s first post of the year on 4 January: …

The post Market Insight: Fuelling anger, the box lines add...

https://theloadstar.com/market-insight-fuelling-anger-the-box-lines-add-insult-to-injury/

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