• Mon
  • Dec 22, 2014
  • Updated: 4:34pm

China Cosco Holdings

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.

Cosco eyes prospects in China-Europe rail link

Cosco wants to make use of its wide sales network to help boost the transport of freight from Europe to China through rail. Photo: EPA

China Ocean Shipping Group (Cosco) is looking to tap into the fledgling China-Europe rail freight market, a move that could drive more imports from Europe, while the company remains pessimistic about the seaborne transport market.

Thursday, 6 November, 2014, 6:08am

China Cosco Holdings buys 5 container ships for US$618m

China Cosco Holdings has ordered 35 vessels since late last year. Photo: Reuters

China Cosco Holdings has finalised the order of five container ships worth US$618 million at a state-owned shipyard.

18 Sep 2014 - 2:35pm

Cosco-Vale deal to end giant ore carrier ban

Valemax ships are expected to be welcome at mainland ports again following China Cosco's agreement to use the miner's huge vessels. Photo: Reuters

Beijing's ban on Vale's giant ore carriers has been practically lifted after China Cosco Holdings' landmark deal with the Brazilian miner last Friday over a 25-year freight contract.

16 Sep 2014 - 3:23am

Cosco signs landmark deal with Vale for giant ore carriers

The two companies had agreed on a contract lasting up to 25 years for China Cosco to ship iron ore for Vale.

China Cosco Holdings has signed a landmark deal with Brazilian miner Vale for the transport of iron ore and the purchase of 14 very large ore carriers, which have been barred from entering mainland ports since early 2012.

15 Sep 2014 - 10:51am

China Cosco hit by market overcapacity as it struggles to get back into black

Bulk shipping had its weakest period since 1986 last year.

China Cosco lost 9.56 billion yuan (HK$11.82 billion) in 2012, after a 10.50 billion yuan loss in 2011. Sales for 2012 rose 4.4 per cent year on year to 88.33 billion yuan.

29 Mar 2013 - 4:16am

Business Digest, February 7, 2013

Now TV signed its exclusive deal to broadcast English Premier League football matches in Hong Kong for three seasons.

Hong Kong and Shanghai-listed China Cosco Holdings could face a revolt by minority shareholders in China as it risks being delisted from the Shanghai stock exchange when it posts its third net loss in a row. 

7 Feb 2013 - 5:16am

Shipping giant Cosco charts seas of red ink

China Cosco's losses have been trimmed but the company is still afflicted by a series of problems, including a slump in demand. Photo: Bloomberg

The torrent of red ink flowing from China Cosco Holdings' balance sheet may have eased in the third quarter with the help of government subsidies. But the problems facing the firm's core dry cargo and container line businesses look far from over, as a slump in demand, too much tonnage in the global merchant fleet, and high-priced charters continue to weigh on the company.

24 Nov 2012 - 3:59am

Cosco to settle lease disputes

China Cosco Holdings, the listed offshoot of the mainland's largest shipping company, downplayed a wrangle yesterday with several international shipowners over unpaid or partially made charter payments on dry bulk cargo ships.

27 Aug 2011 - 12:00am

China Cosco records 3.95b yuan loss

China Cosco Holdings has incurred a floating loss of 3.95 billion yuan (HK$4.47 billion) stemming from a change in the fair value of various forward freight agreements, which the firm uses to lock in costs. The world's largest dry-bulk shipper says the floating losses from the agreements grew to 5.38 billion yuan on December 12 from 2.31 billion yuan at the end of September.

16 Dec 2008 - 12:00am

China Cosco posts 6.1b yuan profit

China Cosco Holdings, the largest global bulk vessel operator, posted a 6.13 billion yuan (HK$6.84 billion) net profit for the first quarter due to a huge rebound in dry bulk freight rates after China resumed imports of iron ore from Brazil.

30 Apr 2008 - 12:00am

Stalled iron ore talks hammer dry bulk rates

Dry bulk shipping rates plunged yesterday as talks between Brazil and the mainland over the price of iron ore ground to a halt, but analysts said the decline - which could crimp the earnings of shipping giants such as China Cosco Holdings - was temporary.

18 Jan 2008 - 12:00am

Temasek to sell HK$2.16b stake in China Cosco

State investor in third share sale

Temasek Holdings, Singapore's state-owned investment flagship, is seeking to sell as much as HK$2.16 billion worth of shares held in China Cosco Holdings, its third share sale in a mainland state-owned firm this week.

30 Nov 2007 - 12:00am

China Cosco must change 'lone wolf' mindset of units

We believe China Cosco Holdings, which operates the largest bulk fleet in the world, deserves a premium to its peers.

Cazenove research report, September 5, 2007

8 Sep 2007 - 12:00am

Cosco earmarks 20b yuan for expansion

Largest mainland shipping group sets sights on becoming integrated logistics firm

China Cosco Holdings, the nation's largest shipping conglomerate, will invest more than 20 billion yuan on fleet expansion by 2010 after it completes its purchase of the dry-bulk unit from its parent, China Ocean Shipping (Group).

6 Sep 2007 - 12:00am

China Cosco bulks up in 34.6b yuan fleet deal

Assets from parent firm will make it top resources carrier

China Cosco Holdings, the mainland's largest shipping conglomerate, will buy its parent firm's dry bulk shipping fleet for 34.6 billion yuan, making it the world's largest transporter of resources.

5 Sep 2007 - 12:00am

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