COSCO defies market pressures with reduced expenses

COSCO Shipping Lines showed an unusually strong result in 2Q 2023, becoming the only carrier to significantly improve its finances compared to 1Q 2023, after an apparently highly successful cost-cutting move, according to Alphaliner.

COSCO Ship Holding’s container shipping business, represented by COSCO Shipping Lines and OOCL, recorded revenue of US$7.91 billion in 2Q 2023, compared with US$4.5 billion in 1Q 2023. Net profit stood at US$1.84 billion in 2Q 2023, more than tripling from US$572.1...

https://container-news.com/cosco-defies-market-pressures-with-reduced-expenses/

COSCO, Hutchison Ports and PSA in eBL agreement

Global Shipping Business Network (GSBN), Saudi Basic Industries Corporation (SABIC), COSCO SHIPPING Lines, Hutchison Ports and PSA International have signed a non-binding memorandum of understanding (MoU) to enable paperless trade.

The agreement will see all signatories leveraging the electronic Bill of Lading (eBL) for export shipments by the shipper SABIC via COSCO SHIPPING’s vessels to ports in Asia operated by Hutchison Ports and PSA.

Additionally, structured data from the eBL issued via...

https://container-news.com/cosco-hutchison-ports-and-psa-in-ebl-agreement/

DNV gives D-INF(S) type approvals to COSCO, SHI for data collection systems

Chinese company COSCO Shipping and South Korean shipbuilder Samsung Heavy Industries (SHI) have received the world’s first D-INF(S) type approvals from classification society DNV for their data collection systems.

The post DNV gives D-INF(S) type approvals to COSCO, SHI for data collection systems...

https://www.offshore-energy.biz/dnv-gives-d-infs-type-approvals-to-cosco-shi-for-data-collection-systems/

COSCO proceeds with blockchain-based eBL

COSCO SHIPPING Specialized Carriers and COSCO SHIPPING Lines have taken further steps to promote blockchain-based electronic bill of lading (eBL) in order to provide clients with a more personalised service experience.

COSCO SHIPPING Lines Qingdao released its first blockchain-based eBL on 13 February, signalling the formal opening of the new cargo release route at Qingdao Port in China.

The completely loaded vessel COSCO SHIPPING Harmony arrived at Qingdao Qianwan West Port United Terminal on...

https://container-news.com/cosco-proceeds-with-blockchain-based-ebl/