Cosco Shipping

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, 7 May, 2015, 3:04pm

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.

7 May 2015 - 3:04pm

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.

7 May 2015 - 3:04pm

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.

7 May 2015 - 3:04pm

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.

12 Nov 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 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.

7 May 2015 - 3:04pm

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

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 May 2015 - 3:04pm

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