The head of Cosco in Pakistan has been shot dead in what police said appeared to be a targeted attack.

Cosco Shipping Holdings said it is benefitting from the recovery in the container shipping market and is expected to turn in a RMB2.7bn ($426.5m) net profit for 2017, turning around from a RMB9.9bn loss the previous year.

Released from the drag of its former container shipping business in 2016, Cosco Shipping Development announced that it was expecting net profit for 2017 to more than triple to at least RMB1.3bn ($205.2m) compared with the RMB368.6m posted in the previous corresponding period.

Cosco has unveiled a $620m plan to develop Greece's largest port Piraeus, with the highlight being the creation of the biggest shipyard facility in the Eastern Mediterranean.

Maersk Line has joined Hapag-Lloyd and CMA CGM in investing in New York Shipping Exchange (NYSHEX).

Lloyd’s Register ceo Alastair Marsh led a cutting of the traditional Vasilopita (Greek New Year’s cake) in honour of the London Greek community at the classification society’s corporate HQ in Fenchurch Street on Wednesday.

The boxship sector is facing record deliveries of ultra-large containerships (ULCs) newbuildings in 2018 with 10 joining the fleet in January alone.

The first ice-breaking LNG carrier jointly owned by Mitsui OSK Lines (MOL) and China Cosco Shipping has been named at Daewoo Shipbuilding & Marine Engineering (DSME).

Cosco Shipping Energy Transportation is going back on the ordering trail, announcing a RMB2.14bn ($323.7m) order for seven tankers from Guangzhou Shipyard International (GSI) over the weekend.

China and Greece have vowed to strengthen cooperation under the Belt and Road Initiative. This commitment was made during a visit to Athens by Chinese Vice Premier Ma Kai.

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