China Cosco

China Ocean Shipping (Group) Co, (COSCO Group) is a government-owned shipping and logistics services group based in Beijing. The company is one of the largest in the world in terms of the number of container ships, and has several listed arms: COSCO Pacific Ltd, China COSCO Holdings Company Ltd, COSCO International Holdings Ltd, Cosco Investment (Singapore) Ltd, Cosco Shipping Company Ltd.

China Cosco director quits amid probe

Xu Minjie

China Cosco said yesterday executive director Xu Minjie had resigned following an investigation by the mainland authorities.

Tuesday, 12 November, 2013, 1:03pm

China Cosco to sell assets as it piles up more losses

China Cosco to sell assets as it piles up more losses

China Cosco, a shipping firm trying to avoid a third straight year of losses in order to retain its listing on the Shanghai Stock Exchange, saw losses widen in the third quarter of this year.

31 Oct 2013 - 2:57am

China Cosco to sell assets in fresh bid to avoid loss

China Cosco has 187 container ships in its fleet. Photo: Bloomberg

China Cosco is disposing of two more assets for 3.67 billion yuan (HK$4.65 billion) to its parent firm in a last-ditch attempt to avoid a third year of losses.

30 Aug 2013 - 3:55am

Cosco mulls leasing venture amid low prices for vessels

A COSCO Pacific Ltd. cargo ship unloads a freight container at the Port Metro Vancouver terminal. Photo: Bloomberg

Shipping services company Cosco International may miss a golden opportunity to enter the leasing business if it does not strike a deal soon with its parent China Ocean Shipping (Group), since a recovery in global trade is likely to push ship prices up next year, say analysts.

21 Aug 2013 - 4:45am

Asset sales offer Cosco one method to avoid delisting

The Chinese shipping industry has suffered from overcapacity and shrinking orders amid a global shipping downturn. Photo: Bloomberg

China's largest bulk shipper, China Cosco Holdings, may sell some of its US$1.6 billion in property assets to avoid a delisting after it flagged a first-half loss, weighed down by a global shipping industry slump.

1 Aug 2013 - 5:07am

Shipping chief locks eyes on the top - not on bottom line

"As long as China Cosco is fully understood by party central and the State Council, it's enough for me" - Wei Jiafu, chairman, China Cosco, April 8

Finally, someone has spoken the truth. There can be no better person than Wei to uncover the lie of so-called state enterprise reform.

13 Apr 2013 - 4:51am

China Cosco could raise billions from divestments

China Cosco may raise as much as 27 billion yuan (HK$33.36 billion) selling assets to its parent. Photo: Bloomberg

China Cosco said this week that it plans to sell Cosco Logistics to state-backed parent company China Ocean Shipping. The unit may be valued at about seven billion yuan, the people said, asking not to be identified. 

14 Mar 2013 - 8:08am

Business Digest, March 12, 2013

Sony chairman Howard Stringer

Cheung Kong has sold about 60 flats at its One West Kowloon project in Lai Chi Kok since cutting prices by 6 to 17 per cent on Thursday, after the government announced a new round of property market cooling measures, property agents said. 

12 Mar 2013 - 4:47am

China Cosco dips 5pc after raising profit alarm

China Cosco faces a potential delisting in Shanghai after it warned it would experience a significant loss for 2012. Photo: Xinhua

Shares in China Cosco, which operates the largest bulk shipping vessels in the world, fell as much as 7 per cent yesterday after it flagged a profit warning for last year and faced a potential delisting in Shanghai.

China Cosco closed at HK$4.08 yesterday, 5.1 per cent down from the previous trading day.

29 Jan 2013 - 3:19am

Cosco still in red but two others shine

China Cosco recorded a 1.53 billion yuan third-quarter net loss.

Three of China's largest shipping companies posted mixed third-quarter results yesterday with China Cosco Holdings remaining in the red, while two subsidiaries of rival China Shipping staunched the red ink of earlier quarters to report net profits.

31 Oct 2012 - 4:12am

Poor results sink shares of China Cosco, CSCL as industry suffers

Wei Jiafu expects business to remain 'very difficult' in the second half. Photo: Dickson Lee

Shares in two of China's largest shipping companies slumped yesterday after they released interim results that pulled them deeper into the red.

31 Aug 2012 - 5:27am

Euro debt crisis takes toll on China Cosco results

China Cosco's first-half net loss was much greater than the same time last year but the result was not a surprise. Photo: Bloomberg

China Cosco, the listed arm of the mainland's biggest shipping company, reported a first-half net loss of 4.87 billion yuan (HK$5.95 billion) late last night, 76.7 per cent higher than in the same period a year earlier.

30 Aug 2012 - 3:17am

China Cosco shares fall as interim net loss set to grow

China Cosco, the listed subsidiary of the mainland's largest shipping firm, saw its share price fall more than 3.6 per cent yesterday after it warned of a first-half net loss of more than 4.14 billion yuan (HK$5.08 billion).

The firm's stock closed at HK$3.15, down 3.65 per cent, its lowest since October 10, according to Hong Kong stock exchange data.

31 Jul 2012 - 12:00am

Market calls

Cosco Pacific (1199), which leases containers to shippers and operates ports, was a major mover last week. The firm has benefited from indications that shipping trade flows are rising.

9 Jan 2012 - 12:00am

Tantalising signs of turnaround glimpsed through the gloom

A glimmer of optimism crept into Hong Kong equities last week, but this was pounded out of markets on Thursday and Friday with a string of bad news: JP Morgan reported a steep drop in profit; Spain's rating was downgraded, as was UBS'; and China reported slowing export growth.

17 Oct 2011 - 12:00am