28606 members and growing – the largest networking group in the maritime industry!

LoginJoin

Sunday, February 17, 2019

Cosco Shipping News

Image: Piraeus Port Authority S.A.

Piraeus Port Signs MoU with Italian Ports

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management…

Pic: Orient Overseas Container Line

Orient Overseas Container Line Reports 10% Revenue Growth

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year."Loadable capacity increased by 7.4%. The overall load factor was 0.8% lower than the same period in 2017. Overall average revenue per teu increased by 3.4% compared to the same period last year," it said in a press release.For the fourth quarter of 2018 (ended 31st December 2018)…

Pic: Cosco Shipping

Cosco Shipping Buys 60% Stake Peru's Chancay Terminal

Global ports operator Cosco Shipping Ports acquiring 60% stake in Terminales Portuarios Chancay (Chancay Terminal) from Volcan Compañía Minera for a total consideration of US$225million.Zhang Wei, Vice Chairman and Managing Director of Cosco Shipping Ports and  José Picasso, Chairman of Volcan signed the agreement on behalf of the two parties.The ceremony was witnessed by Mercedes Aráoz, Vice President of Peru,  Xiao Yaqing, Chairman of State-owned Asset Supervision and Administration Commission of the State Council…

Pic: CMA CGM

Ocean Alliance Unveils Day 3 Product

The world’s largest operational agreement between shipping companies Ocean Alliance -CMA CGM, COSCO SHIPPING, Evergreen and OOCL - has announced the launch of their Ocean Alliance Day 3 Product starting April 2019."Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, signs with his partners the launch of Ocean Alliance Day 3 Product, which will start in April 2019," said a press release from the shipping group.On the occasion of this announcement, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

Pics: COSCO Shipping

Cosco Opens New International Hainan-ASEAN Liner Route

The New International Land-Sea Trade Corridor (ILSTC) and COSCO Shipping  'Hainan-ASEAN (Singapore)' Liner Route, co-hosted by Hainan Provincial People’s Government and COSCO Shipping, was launched at Hainan Yangpu Xiaochantan Terminal owned by Hainan Harbor & Shipping Holding.Hainan Governor Shen Xiaoming announced the launch of the maiden voyage.The “Hainan-ASEAN (Singapore)” Liner Route opens a direct passage through which goods from China’s western regions can be shipped southward to Singapore via Yangpu Port…

Pic: Cosco Shipping Ports

Cosco Shipping Ports Buys Stake in Beibu Gulf Port

Hong Kong-based Cosco Shipping Ports has purchased a 4.34% stake in Shenzhen-listed Beibu Gulf Port Co for a total consideration of approximately RMB 470 million (USD 68 mln)."By subscribing the shares, Cosco Shipping Ports aim to further strengthen the cooperation with Beibu Gulf Port, and lay a foundation for the Company to participate in the integration of Guangxi ports. At present, Cosco Shipping Ports teams up with Beibu Gulf Port in operating Qinzhou International Container Terminal Co.…

Image: Abu Dhabi Ports

Cosco , Abu Dhabi Ports Open New Terminal at Khalifa Port

Abu Dhabi Ports on Monday inaugurated the new Cosco Shipping Container Terminal at Khalifa with a capacity of 2.5 million TEUs (twenty-foot equivalent units).The new CSP Abu Dhabi Terminal, which includes the largest container freight station in the Middle East, is expected to boost Abu Dhabi’s position as a global maritime hub and support China’s One Belt One Road initiative.CSP Abu Dhabi Terminal is the first international green-field subsidiary of Cosco Shipping Ports; water…

HH Sheikh Hamed attends opening of the CSP Abu Dhabi Terminal at Khalifa Port 3 (Photo: Abu Dhabi Ports)

CSP, Abu Dhabi Ports Partner

COSCO SHIPPING Ports and Abu Dhabi Ports inaugurated CSP Abu Dhabi Terminal at Khalifa Port; positioning Abu Dhabi as the regional hub for COSCO’s global network of 36 ports and further connecting the Emirate to the major trade hubs along the Belt and Road Initiative (BRI).The deepwater, semi-automated container terminal includes the largest Container Freight Station (CFS) in the Middle East, covering 275,000 square meters. It offers facilities for full and partial bonded container shipments…

Pic: PSA Singapore Terminals

Cosco-PSA Terminal JV Adds Two New Berths in Singapore

China's Cosco Shipping Ports and PSA Corporation signed a memorandum of understanding (MoU) for the addition of two new berths at the Cosco-PSA Terminal in Singapore.With the launch of the two new berths, CPT will be equipped with five mega-vessel berths, increasing its annual handling capacity from 3 million TEUs of the current three berths to about 5 million TEUs.The new berths will strengthen CSP’s presence in Singapore and support the needs of Cosco Shipping group with the advent of mega-vessels and megaalliances in the shipping industry.

Image: Navis

COSCO Shipping Ports, Navis Join to Launch Center of Excellence

The terminal operating systems (TOS) provider announced a new partnership with COSCO Shipping Ports Limited (CSP), creating a joint Center of Excellence (CoE).Navis is a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain.Launched in September 2018, the center will deliver dedicated Navis and CSP resources for N4 implementation projects…

Shipping industry executives initiate blockchain consortium at a signing ceremony. Photo: CargoSmart Ltd.

Global Shipping Business Network on Blockchain Platform Launched

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…

Photo: COSCO Shipping Ports

COSCO Shipping Ports Revenue Surged by 62.6%

COSCO Shipping Ports said that its revenue  for the three months ended 30 September 2018  surged by 62.6% to US$253.0 million. The net profit for the same period rose by 11.8% to US$75.1 million.The  ports operator in a press release also said that the revenue for the nine months ended 30 September 2018 was surged by 73.5% to US$748.4 million where as adjusted net profit rose by 46.6% to US$244.1 million,For the nine months ended 30 September 2018, the Group’s total throughput increased by 20.6% to 87…

Pic: Abu Dhabi Ports

Abu Dhabi Ports Acquires Damen Tug Boats for Khalifa Port

Abu Dhabi Marine Services “Safeen”, the marine services subsidiary of Abu Dhabi Ports, announces the purchase of two new state-of-the-art tugboats from Damen Shipyards Group aimed at supporting the AED 10 billion] expansion of Khalifa Port, Abu Dhabi Ports’ flagship deep-water port.The purchase of the DAMEN ASD 2411 tugboats was announced at the Abu Dhabi International Boat Show 2018. The contract was signed by Captain Adil Ahmed Banihammad, Acting Chief Marine Services Officer at Safeen, and Pascal Slingerland, Regional Sales Director for Damen Shipyards Group.

Pic:  Port of Zeebrugge

Shanghai Lingang Invests in Zeebrugge Port

Chinese investment by the Shanghai Lingang Overseas Development  in the port of Zeebrugge was officially signed in Brussels by Liu Jiaping, Chairman of Lingang, and Coens Joachim, CEO of Port of Zeebrugge.The agreement was signed in the presence of the prime minister of the People’s Republic of China, Ki Keqiang, and the prime minister of Belgium, Charles Michel.Port of Zeebrugge already announced the investment by the Chinese group Lingang in the Maritime Logistic Zone to establish a service and distribution park.

Photo courtesy of PPA

Piraeus Port Urges Greece to Speed Up Investment Plan Approval

Piraeus Port Authority (PPA), operator of Greece's largest port, wants the Greek government to speed up the approval of an investment plan that aims to attract more business to one of Europe's largest harbours, executives said on Friday.PPA, majority owned by China's COSCO Shipping , is awaiting the green light from Greece's shipping ministry to proceed with mandatory investments based on its concession agreement with the Greek state.Approval of PPA's so-called master investment plan…

From left to right: Pascal Slingerland (Regional Sales Director, Damen Shipyards Group), Captain Adil Ahmed Banihammad (Chief Marine Services Officer, Safeen). Photo: Damen Shipyards Group

Damen to Supply Two Tugs to Safeen

Damen Shipyards Group has signed a contract with Abu Dhabi Ports and its subsidiary Abu Dhabi Marine Services (Safeen) for the supply of two new Damen ASD Tugs 2411.The contract was signed by Captain Adil Ahmed Banihammad, the Acting Chief Marine Services Officer at Safeen, and Pascal Slingerland, Regional Sales Director for Damen Shipyards Group. Delivery of both vessels is due within three months.Abu Dhabi Ports owns and operates 11 ports and managing over 55,000 vessel calls each year. The ASD Tugs 2411 will bring additional vessel handling capabilities to the group.

Pic: Bharat Mumbai Container Terminals (BMCT)

PSA Bharat Mumbai Container Terminals Achieves Record Vessel Productivity

PSA’s Bharat Mumbai Container Terminals (BMCT) has achieved a new vessel productivity benchmark of 155 moves per hour on COSCO Shipping Lines Co Ltd’s vessel M.V. Xin Hong Kong, which departed BMCT on 30 September 2018.Together with sister vessels from service partners CMA-CGM and Hapag-Lloyd, M.V. Xin Hong Kong operates the India Ocean / EPIC 2 weekly service, linking India and the Middle East directly with the North European Ports of Antwerp, Hamburg and London.A total of 2…

Photo:  Abu Dhabi Ports

Khalifa Port Receives ARMG Cranes

Abu Dhabi Ports announced on Sunday the delivery of the first shipments of Automated Rail Mounted Gantry Crane (ARMG) and ship-to-shore quay cranes (STS) to Khalifa Port.Shipped from Shanghai, the ten state-of-the-art ARMG Cranes and four STS Cranes are the initial batches of equipment to be installed at COSCO Shipping Abu Dhabi Terminal, the second container terminal being built at Khalifa Port due for completion at the end of this year.As innovation and automation continues to be part of Abu Dhabi Ports’ long-term strategy…

File Photo: Cosco

COSCO Shipping Lines Comes to Bosnia

China's largest state-owned international and domestic container shipping and related services company COSCO shipping lines is opening its first branch in Sarajevo of Bosnia and Herzegovina.The Sarajevo office was opened within the “One Belt – One Road” (Maritime Silk Road) initiative. As its fourth regional office, it will add Bosnia to Croatia and Serbia, where COSCO already operates. The Maritime Silk Road is a sea route connecting China, Southeast Asia, Oceania, Europe and North Africa.FENA news agency quoted Meliha Mujezinovic…

Image: APM Terminals

APM Terminals Gothenburg Performs Well

This year has seen record-breaking performance at APM Terminals Gothenburg and the return of major shippers and consignees to the terminal. Progress is set to continue as efficiency increases through automation, including self-service gates and Optical Character Recognition (OCR) for rail and truck gates due later this year.Over the last year, APM Terminals Gothenburg has implemented a number of concrete initiatives to improve the customer experience. These include maintaining satisfactory and stable production…

© Bits and Splits/AdobeStock

Maritime Ports Pushed to Up Cyber Security

Resilience planning, Info Sharing Take Spotlight“Oh what a tangled web we weave, when first we practice to deceive.” That old chestnut gets turned on its head when it comes to port cyber security. It’s more like “Oh what a tangled web we’ve woven, so much harder to stop data stolen.”Ports today have the physical aspect of security pretty well nailed shut - gates, locks, fencing, alarms, cameras, drones, etc. As Chris Mason, Rajant Corp.’s director of sales for EMEA, notes, “Every…

File Image: CREDIT AdobeStock / © Maria Ignatova

COSCO Shipping's H1 Profit Falls 98 pct

China's COSCO Shipping Holdings Co Ltd on Thursday said first-half profits fell 97.8 percent as it grappled with higher costs and a slide in freight rates.China's largest shipping group, which has bought a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 40.8 million yuan ($6 million), down from 1.86 billion yuan in the same period last year.After a prolonged slump, the global container shipping industry entered a period of recovery last year.

Photo: Cosco Shipping Ports

Cosco Shipping Ports Net Profit Soars by 70.1% for H1 2018

Cosco Shipping Ports (CSP), one of the world’s largest container terminal operators, said despite the the US-China trade war, as it posted a 70.1 percent jump in adjusted profit for the first six months ended 30 June 2018."2018 is a year full of challenges. Sino-US trade frictions, the rise of trade protectionism, geopolitical uncertainties and the upward trend of interest rates have the potential to place serious pressure on the development of global trade. Despite all these uncertainties…

Tung Chee Chen. Photo: Orient Overseas (International) Limited

COSCO-OOIL Merger Has Great Synergy: Xu, Tung

The merger of Orient Overseas (International) Limited (OOIL) and COSCO Shipping Holdings offers can effectively combine the respective strengths of both and optimize our global network, thereby achieving greater economies of scale and synergies,  incoming Chairman of OOIL, Captain Xu Lirong, said commenting on the deal.This transaction is a common choice for both sides to follow the development trend of container shipping industry and realize sustainable development, he added."I…

China COSCO Shipping, Executive Vice President, Sun Jiakang (first from left) PAO Novatek, Chairman of the Management Board Leonid Mikhelson (second from left) Director of the National Energy Administration of China, Nur Bekri (fourth from left) Minister of Energy of Russia, Alexander Novak (fourth from right) CNPC, Board Director, President, Zhang Jianhua (third from right) MOL, Senior Managing Executive Officer, Takeshi Hashimoto (first from right). Photo: Mitsui O.S.K. Lines

Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal

Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia. For its latest voyage…

(Photo: Port of Zeebrugge)

CMA CGM Buys Stake in CSP Zeebrugge Terminal

French container carrier CMA CGM announced Friday it has acquired from CHINA SHIPPING Ports Development Co. Limited, a wholly-owned subsidiary of COSCO Group, a 10 percent equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals.CMA CGM is currently the major client of the Belgian container terminal and accounted for one third of CSP Zeebrugge's total throughput in 2017.COSCO SHIPPING Ports completed the acquisition of the remaining 76 percent…