Cosco Pacific

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.

Asset sale boosts Cosco Pacific profit

Cosco Pacific is looking at buying more overseas port operations as throughput growth slows on the mainland. Photo: Bloomberg

Cosco Pacific said its net profit shot up 105 per cent to US$702.7 million last year and the company is considering making more port acquisitions abroad at a time when the mainland's container throughput growth is slowing.

Wednesday, 26 March, 2014, 6:34am

Cosco Pacific container throughput up 10pc as interim profit triples

Cosco Pacific shares fell 0.2 per cent to HK$11.28 yesterday.

The net profit of the port-to-container-leasing company rose 213 per cent to US$560.3 million. Underlying net profit dipped 3.6 per cent to US$143.8 million after stripping out a US$393.4 million one-off gain from the disposal of a container manufacturing unit.

28 Aug 2013 - 4:52am

Cosco Pacific eyes ports abroad

Cosco Pacific eyes ports abroad

Cosco Pacific says it is in advanced talks to buy ports on the mainland and in Southeast Asia and Greece because of their attractive prices.

24 May 2013 - 3:47am

Cosco Pacific nets US$1.2b from sale

Shares in Cosco Pacific rose 4.07 per cent to HK$11.24 yesterday after it announced the deal on Monday night.

Cosco Pacific boosted its war chest to bid for a stake in a state-owned terminal in Greece after pocketing US$1.2 billion from selling its container manufacturing associate to its parent firm Cosco Group.

Shares in Cosco Pacific rose 4.07 per cent to HK$11.24 yesterday after it announced the deal on Monday night.

22 May 2013 - 4:04am

Briefs, October 26, 2012

Third-quarter earnings of Nexen plunged.

Shale gas auction attracts 152 bids

The mainland's second round of shale gas auctions drew 152 bids from 83 companies as non-state firms were allowed to take part for the first time. China, which has the world's biggest shale gas reserves, has yet to produce the fuel commercially. The blocks auctioned cover 20,002 square kilometres across eight provinces. Bloomberg  

26 Oct 2012 - 2:50am

Cosco Pacific primed for third Piraeus terminal

Cosco Pacific spent US$320 million in the first half.

Cosco Pacific, the terminals offshoot of China's largest shipping company, is on course to start container stevedoring operations at terminal three at Piraeus port in Greece next year.

19 Sep 2012 - 3:10am

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

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

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

Damaging blow to our lifeblood

The Basic Law is supposed to be a shield for Hong Kong, one which gives it autonomy in all things except foreign affairs and provides for its own courts to interpret that law. But Beijing and its local 'united front' chauvinists are doing their best to undermine it in various ways.

4 Sep 2011 - 12:00am

Hong Kong walloped as global recession fears haunt market

It was supposed to have been a positive week for the Hong Kong market. US lawmakers last Monday (Asia time) finally agreed to raise the US debt ceiling, relieving the market of the possibility of a monster sovereign default.

8 Aug 2011 - 12:00am

Cosco Pacific container handling rises 24.9pc

Cosco Pacific, the fifth-largest port operator in the world, had a strong start to the second half by posting 24.9 per cent year-on-year growth in container throughput in July. This compared with a 19 per cent jump in the second quarter, following an 18.4 per cent increase in the first. The 21 ports operated or owned by the company handled 4.4 million 20-foot equivalent units last month.

17 Aug 2010 - 12:00am

Cosco Pacific to raise domestic service fees

Cosco Pacific will increase service charges in the south and the Bohai Rim area as it bets on an upswing in the nation's economy.

The world's fifth-largest port operator, which owns stakes in 17 terminals from Dalian to Hong Kong and three overseas ports, forecasts domestic trade will recover more vigorously than global trade this year.

8 Jan 2010 - 12:00am

Shanghai port data sparks rise in shipping stocks

Shares of shipping and port companies rallied after Shanghai port demand rebounded last month, pointing to a recovery in exports to the United States and Europe.

Shanghai Port, the largest on the mainland, saw container terminal throughput rise 7 per cent month on month to 2.14 million 20-foot equivalent units (teu).

4 Aug 2009 - 12:00am

Cosco Pacific bets on asset sales for buoyant profits

Cosco Pacific will have to rely on exceptional gains again to keep an even keel on profitability as throughput growth at mainland terminals slows.

14 Apr 2008 - 12:00am

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