In a sign of the Greece’s rapidly deteriorating finances, tenders issued by the municipal port fund of Rethymno in Crete refer to life outside the euro. By including a clause referring to “any national Greek currency at the time”, the port...
Cosco Corporation (Singapore) Limited reported a plunge in first quarter net profit as its operating conditions continued to deteriorate amid the shipbuilding industry slump.
China Cosco Holdings has stayed in the red in the first quarter, and is seeking progress on a transportation agreement with Brazil’s Vale on the very large ore carriers (VLOCs).
Greek government officials have underlined the cash-strapped country’s interest in further developing co-operation with China in logistics and transport infrastructure, in the wake of Cosco Group’s strategic investment in the port of Piraeus.
China Cosco Holdings Company has reported a drop in net profit as the company continues to increase its revenue and reduce expenses amid the weak shipping market.
Maersk Line says it had ordered seven 3,600 teu container ships from Cosco Shipyard Zhoushan in China for an undisclosed price for its European shortsea shipping arm.
The European Commission has concluded certain fiscal benefits granted by Greece to port operator Piraeus Container Terminal (PCT) and its parent Cosco Pacific provided an “undue financial advantage over their competitors” and the aid must be repaid.
