COSCO Shipping

Confidence elevated after Trump decides to meet with Vice Premier.

Container ship firm plans pledge to coincide with upcoming G7 summit in France.

Four of the largest shipping lines and five ports operators committed to support a blockchain development platform for the shipping industry. Hong Kong-based CargoSmart said the agreement with CMA CGM, Cosco Shipping Lines (HKEX: 1919), Orient Overseas Container Line (HKEX: 316), Hapag-Lloyd (FSE: HLAG), along with Cosco Shipping Ports, Hutchison Ports, Port of Qingdao, PSA […]

Overseas Orient Container Line (OOCL) has sold its Long Beach Container Terminal for US$1.78 billion (HK$13.973 billion) in cash, it was announced today by OOCL’s owner, Overseas Orient International Ltd (OOIL; HKEX:0316). OOIL says that it expects to realize a gain of  just under US$1.3 billion from the deal.

OOIL fleet boosts Cosco’s volumes and revenue, but rates were stagnant and high finance costs push profit lower.

OOIL and Yang Ming see better revenue growth, but bottom line results diverge as finance and fuel costs hit results.

Overcapacity and low utilization rates have plagued the Asia to Europe trades for some years, and with a further 1.1 million TEU capacity set to be delivered between now and the end of 2020, the supply and demand ratio is expected to affect freight rates up to the end of 2022.

New container service provides Florida greater and cheaper access to Asia’s exporters; start-up aims to reduce per-diem fees on containers.

Dam collapse could pinch amount of ore heading to water; container crane falls on ship in Canada; Australian port tries to go clean.

Capacity additions set to have knock-on effect for trades into North America; Australia’s port strike to cause Pacific Rim ripples.

Funding aims to keep Port’s market share as more freight moves to intermodal and off the roads.

New group floats alternative blockchain solution for container trade.

COSCO shipping came under a cyber attack this week, which reinforces the need for comprehensive cybersecurity regulations within the maritime industry as the future moves towards port automation and autonomous shipping.