Cosco Corp profit drops 82% in 1Q15 （2015-05-05）
Singapore-listed Chinese shipbuilding and dry bulk shipping group Cosco Corporation Singapore (Cosco) posted a net profit of SGD4.25 million (USD3.19 million), down 82% year-on-year for the first quarter that ended 31 March 2015. Revenue also dropped 5% to SGD990,000 in 1Q15 as compared to SGD1.04 m... |
Vale denies mega-order report （2015-05-03）
Brazilian iron ore giant, Vale, has disputed a published report that it could lease 50 very large ore carrier (VLOC) newbuilds, more than double its previously stated plans. The Wall Street Journal (WSJ) reported on 29 April that Vale was in talks to lease around 20 VLOC newbuilds from China COSCO H... |
Cosco Zhoushan wins up to seven Maersk boxships （2015-03-30）
Chinese shipbuilder Cosco Zhoushan Shipyard has won an order for up to seven ice-class containerships from Denmark’s Maersk Line, which will be a first for the shipbuilder in the construction of containerships. The order is for five 3,600 teu feederships with an overall length of 200 m and the order... |
China COSCO's profit up 54% y/y on subsidies （2015-03-27）
China COSCO Holdings' profit jumped 54% year on year (y/y) to CNY362.5 million (USD58.5 million) on government subsidies for scrapping old tonnage. Excluding one-off gains, its loss narrowed 81% y/y to CNY1.4 billion due to slump in fuel costs and contraction of its chartered-in fleet, according to ... |
Hudong-Zhonghua secures Coscol options （2015-03-18）
Hudong-Zhonghua Shipbuilding has secured an order for two multipurpose heavy lift vessel options from compatriot shipowner COSCO Shipping Co Ltd (Coscol). The two 28,000 dwt newbuildings will have an overall length of 179.5 m, beam of 28 m and depth of 14.8 m with delivery scheduled for April and Au... |