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.

 

Disposal gains propel Cosco Pacific profit

The utilisation rate of containers under Cosco Pacific fell to 94.6 per cent last month. Photo: Bloomberg

Cosco Pacific, one of the world's largest container leasing companies, saw its net profit jump 2.3 times year on year to US$640.4 million in the first nine months on one-off disposal gains.

Tuesday, 29 October, 2013, 2:42am

Greek PM hopes China trip will boost his country’s ailing economy

Under pressure... Greek Prime Minister Antonis Samaras this week becomes the second European Union leader to visit China since the new Chinese leadership came to power. Photo: EPA

Greece’s Prime Minister Antonis Samaras hopes his four-day trip to China this week will help his country’s ailing economy by attracting investment and promoting the export of Greek products.

Upon the invitation of the head of the Chinese government Li Keqiang, Samaras will visit Beijing, Shanghai and Hangzhou from Wednesday to Sunday, and will meet several Chinese officials.

13 May 2013 - 12:05pm

HSBC pays big bonuses while admitting to money laundering

Cosco: failing to make headway

So HSBC paid 204 of its staff more than £1 million (HK$11.7 million) each in bonuses for the financial year just gone, we learned from its results yesterday.

5 Mar 2013 - 5:07am 1 comment

Business Digest, January 15, 2013

China Railway gets 30b yuan in mainland deals

Cosco mulls €1b stake in Greece's biggest port

Mainland shipping group Cosco is considering investing €1 billion (HK$10.4 billion) for a 60 per cent stake in Greece's largest port, at Piraeus, which is on the government's privatisation agenda, financial daily Imerisia said. Cosco already has an investment in the port, which is 74 per cent state-owned. Reuters

 

15 Jan 2013 - 4:16am

Cosco and China Shipping seek closer business ties

Chinese transport giants Cosco and China Shipping are considering more ways they can work together across various sectors. Photo: IHT

The mainland's two largest shipping companies, China Ocean Shipping (Group) and China Shipping, are exploring ways to deepen their business relationship, Cosco president Ma Zehua confirmed yesterday.

He said the two sides would "conduct more dialogue and research" to strengthen their co-operation across various shipping sectors and not just the container shipping business.

18 Oct 2012 - 4:47am

Morning Clicks: Vietnam claims South China Sea oil block, demands that bidding stop

The central government will invest a total of 400 billion yuan (HK$489.14bn) in healthcare by the end of China's 13th five-year plan (2016-2020).

4 Sep 2012 - 9:44am

Cosco International seeks acquisitions to boost profits

Cash-rich Cosco International, the shipping services offshoot of China's largest shipping firm Cosco, is eyeing acquisitions both inside and outside its parent as it seeks to develop synergies with existing businesses.

23 Aug 2012 - 2:13am

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

2012 HKMA Quality Award

Board of Examiners

Matthew Yuen (Chairman)

Head and professor, department of mechanical engineering, HKUST

Eric Chow

Head, corporate treasury and financing, Hong Kong and China Gas

Katherine Lau

General manager, corporate quality and sustainability, Fuji Xerox (Hong Kong)

Ivy Leung

17 Jul 2012 - 12:00am

China's helping hand on cargo 'impractical'

The global shipping industry is facing its worst downturn in three decades, but industry experts say that mainland moves to boost Chinese shipping firms' business by allocating more cargo to them could be tricky to implement.

Richard Lidinsky, chairman of the US Federal Maritime Commission, said: 'Some kind of China cargo reservation system [would be] very difficult to do.'

10 Jul 2012 - 12:00am

Bank rescue, China data buoy shipping

Shares in a raft of shipping firms soared yesterday amid upbeat investor sentiment following the release of sharply higher mainland export and import figures for May and optimism about a bailout of Spanish banks.

12 Jun 2012 - 12:00am

Lai See

SFC chief not trying to win friends at Hong Kong Club

23 May 2012 - 12:00am

Expansion at greek container terminal

Cosco Pacific, the marine terminals subsidiary of China's largest shipping company, is going ahead with a Euro120 million (HK$1.18 billion) expansion of Piraeus Container Terminal in Greece months earlier than planned.

18 May 2012 - 12:00am

Fuel supplier loses US$4m bid against Argentine firm

A mainland marine fuel supplier has failed in its bid to secure claims for unpaid bills totalling more than US$4 million against an Argentine shipping company.

Chimbusco Pan Nation Petro-Chemical, which is owned by Cosco and PetroChina, had claimed US$4.22 million for fuel supplied to the dry cargo ship Decurion and 10 other ships it said were controlled by Maruba SCA.

8 May 2012 - 12:00am

Shipping lines to receive low-sulphur fuel rebates

Shipping lines voluntarily using costly low-sulphur fuel to reduce air pollution in Hong Kong will finally get government help to offset their higher fuel bills.

But soaring fuel costs and a lack of government action to force all shipping firms to use low-sulphur fuel in Hong Kong may see some operators switch back to oil with a higher sulphur content.

3 Apr 2012 - 12:00am

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