Cosco Shipping Ports (CSP) has signed an agreement to lease a container freight station from Abu Dhabi Ports Company, the owner and operator of ports in Abu Dhabi, the company said.
While the intra-Asia trade has been held up as the next great thing the container industry, there remains debate about the perception that it is notoriously difficult to make money from.
China Cosco Shipping is to take a 50% stake in four LNG carriers ordered by Mitsui OSK Lines (MOL) for the Yamal LNG project in far north Russia.
Cosco Shipping Development Company has signed a technical services agreement Cosco Shipping Lines for the supervision of six 21,000 teu and eight 13,500 teu newbuildings for a total of RMB34.4m ($5.2m).
Cosco Shipping Energy Transportation saw its performance slip in the first nine months of the year due to weak rates, the company said in a stock market announcement.
Cosco Shipping Holdings is looking to raise up to $1.94bn through a private share issue to fund 20 containership newbuildings.
Cosco Shipping Ports (CSP) continues to perform well in September, with overall volumes rising 18% to 7.7m teu from 6.5m teu previously, driven by huge gains in its overseas investments and recovery in traditional markets such as the Pearl River Delta and Yangtze River Delta regions.
Executives from Chinese group China Cosco Shipping have been briefed by the Greek government as it pledges to sort out the future of the country’s floundering shipbuilding and shiprepair industry.
Cosco (Dalian) and Cosco (Zhoushan) Shipyards for two multi-purpose vessels and four bulkers respectively plus options.