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CoscoCorp
GodOfTrader
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12-Oct-2016 02:17     
 
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When all stocks are rising, i prefer to sit down & play zither calmly.
~Zhuge Liang

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GodOfTrader
Senior
12-Oct-2016 02:06     
 
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Analysis by GodOfTrader on Shipping Demography:
As the demography of shipping is changing due to the breakup of Hanjin Shipping (7th Biggest Shipping Lines), which is the indicator of the Shipping Revival Beginning which will also positively affects its related business. The eventual bankrupcy of Hanjin Shipping had diversified its business to its Competitors, Shipping Lines had been raising Freight Rates to overturn the shipping margin environment since the announcement of Hanjin Shipping courts proceeding   & shippers had been finding alternative shipping lines to deliver their products to avoid being affected by stalled deliveries. Business of Hanjin Shipping had been increasingly flowing out to other shipping lines, which is good for the overall shipping environment.

We can see that Shipping Lines will eventually benefits from Bankrupcy of Hanjin Shipping. Though the minority of Shipping Lines may get spaces of breathing from freight rate increases, but do not ensure their survival. However, the big Shipping Lines will benefits hugely from the consolidation of Shipping Industry. The Tigers of the Shipping Industry, Maersk Line and CMA CGM are both eyeing for business and assets of Hanjin Shipping with   COSCOS as the the black horse (3rd Runner Up) for Hanjin Terminal Assets only.

The Battle of the Sea is getting more exciting- Who will win the Battle and eventually benefits?
                                                                                                                                                                                                                                                                  (Editor: GodOfTrader. View: Personal Opinion)


COSCO TO DELIVER KHAZAK MODULES
Shipping line  COSCO has been awarded a major transportation and logistics contract to deliver modules for an oilfield project in Astana, Kazakhstan.

The contract includes shipment of 1,800-ton modules to transshipment sites in the Black and Baltic seas from fabrication yards in Korea and Europe. COSCO will collaborate with a number of Korean Partners on the project, including Dongbang Transport Logistics, Hanjin Transportation, CJ Korea Express and Chung Yang Shipping.

The team responsible for delivery at COSCO will rely on a fleet of 18 semi-submersible vessels and deck carriers to carry out about 60 shipments between 2018 and 2020. Shipments are scheduled to pass via the ports of Burgas, Bulgaria and Hamina, Finland before delivery to western Kazakhstan by Russian Inland Waterway Systems.

http://www.breakbulk.com/cosco-deliver-khazak-modules/
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GodOfTrader
Senior
12-Oct-2016 01:43     
 
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" It may/ may not, depending on your perspective.
However, every rally had its own rise and fall."

I can only say nothing is perfect, each to his view.
All the best no matter what you choose.

happyharvest      ( Date: 12-Oct-2016 01:39) Posted:



Is it worth the time and effort to study Cosco if Cosco only rally to 0.36 months later while other stocks are already rallying big?

GodOfTrader      ( Date: 12-Oct-2016 01:24) Posted:



Edited
My view: As COSCOS would negotiate if Officials would sells Hanjin by Parts (Terminal Assets only).
                  COSCOS desired the Terminal Assets of Hanjin Shipping.   
                    % of COSCOS buying Terminals Assets had been raised from  0% to 33.3% 
                  (In view of in event if Officals approved to sell Hanjin by parts. And also interests from CMA CGM and Maersk Lines who may be also eyeing on Hanjin Assets)

Seoul Court Considers Selling Hanjin& rsquo s Asia-U.S. Business
>     Judge met officials on possible sale plan: court spokesman
>   Court intends to make decision on sale as soon as possible





The Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co. is considering a disposal of the sales-and-marketing network of the container line& rsquo s Asia-U.S. operations as part of efforts to raise funds at the indebted company. 

The plan was set in motion after a detailed evaluation of the company under bankruptcy protection indicated its assets could be more valuable if sold in parts, a court spokesman said by phone Tuesday. A sale would include employees and customers of Hanjin subsidiaries involved in handling Asia-U.S. cargo as well as some vessels, he said. The court intends to make a decision as soon as possible, he said. 

The effort to sell the company in parts comes after the court indicated last month that it would consider selling the entire container line, which sought bankruptcy protection in August. Hanjin,  South Korea& rsquo s biggest container line, fell victim to a global slump in trade that has depressed freight rates and led to losses, consolidation and job cuts among other shipping companies. The Seoul-based company sought protection after creditors halted all financial support, causing its ships to be    stranded  at sea and disrupting the global supply chain ahead of the year-end holiday season. 

The Seoul court, which established a committee to evaluate Hanjin, hasn& rsquo t determined what to do with Hanjin& rsquo s other operations including those moving goods between Asia and Europe, the spokesman said. Hanjin is required to submit its own proposal for revival by Dec. 23. 

Yesterday, the judge met with the evaluating officials, who are also helping the court to review a possible sale of Hanjin& rsquo s operations, the spokesman said. The court has yet to decide on the number of vessels or how many workers could be affected by a sale of the U.S.-Asia operations, he said. Hanjin Shipping had 1,428 employees as of June 30, according to its half-year financial report. 

Hanjin closed unchanged at 1,025 won in Seoul trading. The stock has plunged 72 percent this year, cutting its market value to about 251 billion won ($224 million). 

Its market share has also shrunk as customers defected, dropping to 1.3 percent as of Oct. 11 and making Hanjin the 17th biggest container line, according to shipping data provider Alphaliner.  Before the company& rsquo s filing, it was in seventh place and controlled 2.9 percent of the market.

http://www.bloomberg.com/news/articles/2016-10-11/seoul-court-considers-selling-hanjin-s-asia-u-s-trade-business


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happyharvest
Elite
12-Oct-2016 01:39     
 
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Is it worth the time and effort to study Cosco if Cosco only rally to 0.36 months later while other stocks are already rallying big?

GodOfTrader      ( Date: 12-Oct-2016 01:24) Posted:



Edited
My view: As COSCOS would negotiate if Officials would sells Hanjin by Parts (Terminal Assets only).
                  COSCOS desired the Terminal Assets of Hanjin Shipping.   
                    % of COSCOS buying Terminals Assets had been raised from  0% to 33.3% 
                  (In view of in event if Officals approved to sell Hanjin by parts. And also interests from CMA CGM and Maersk Lines who may be also eyeing on Hanjin Assets)

Seoul Court Considers Selling Hanjin& rsquo s Asia-U.S. Business
>     Judge met officials on possible sale plan: court spokesman
>   Court intends to make decision on sale as soon as possible





The Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co. is considering a disposal of the sales-and-marketing network of the container line& rsquo s Asia-U.S. operations as part of efforts to raise funds at the indebted company. 

The plan was set in motion after a detailed evaluation of the company under bankruptcy protection indicated its assets could be more valuable if sold in parts, a court spokesman said by phone Tuesday. A sale would include employees and customers of Hanjin subsidiaries involved in handling Asia-U.S. cargo as well as some vessels, he said. The court intends to make a decision as soon as possible, he said. 

The effort to sell the company in parts comes after the court indicated last month that it would consider selling the entire container line, which sought bankruptcy protection in August. Hanjin,  South Korea& rsquo s biggest container line, fell victim to a global slump in trade that has depressed freight rates and led to losses, consolidation and job cuts among other shipping companies. The Seoul-based company sought protection after creditors halted all financial support, causing its ships to be    stranded  at sea and disrupting the global supply chain ahead of the year-end holiday season. 

The Seoul court, which established a committee to evaluate Hanjin, hasn& rsquo t determined what to do with Hanjin& rsquo s other operations including those moving goods between Asia and Europe, the spokesman said. Hanjin is required to submit its own proposal for revival by Dec. 23. 

Yesterday, the judge met with the evaluating officials, who are also helping the court to review a possible sale of Hanjin& rsquo s operations, the spokesman said. The court has yet to decide on the number of vessels or how many workers could be affected by a sale of the U.S.-Asia operations, he said. Hanjin Shipping had 1,428 employees as of June 30, according to its half-year financial report. 

Hanjin closed unchanged at 1,025 won in Seoul trading. The stock has plunged 72 percent this year, cutting its market value to about 251 billion won ($224 million). 

Its market share has also shrunk as customers defected, dropping to 1.3 percent as of Oct. 11 and making Hanjin the 17th biggest container line, according to shipping data provider Alphaliner.  Before the company& rsquo s filing, it was in seventh place and controlled 2.9 percent of the market.

http://www.bloomberg.com/news/articles/2016-10-11/seoul-court-considers-selling-hanjin-s-asia-u-s-trade-business

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GodOfTrader
Senior
12-Oct-2016 01:24     
 
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Edited
My view: As COSCOS would negotiate if Officials would sells Hanjin by Parts (Terminal Assets only).
                  COSCOS desired the Terminal Assets of Hanjin Shipping.   
                    % of COSCOS buying Terminals Assets had been raised from  0% to 33.3% 
                  (In view of in event if Officals approved to sell Hanjin by parts. And also interests from CMA CGM and Maersk Lines who may be also eyeing on Hanjin Assets)

Seoul Court Considers Selling Hanjin& rsquo s Asia-U.S. Business
>     Judge met officials on possible sale plan: court spokesman
>   Court intends to make decision on sale as soon as possible





The Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co. is considering a disposal of the sales-and-marketing network of the container line& rsquo s Asia-U.S. operations as part of efforts to raise funds at the indebted company. 

The plan was set in motion after a detailed evaluation of the company under bankruptcy protection indicated its assets could be more valuable if sold in parts, a court spokesman said by phone Tuesday. A sale would include employees and customers of Hanjin subsidiaries involved in handling Asia-U.S. cargo as well as some vessels, he said. The court intends to make a decision as soon as possible, he said. 

The effort to sell the company in parts comes after the court indicated last month that it would consider selling the entire container line, which sought bankruptcy protection in August. Hanjin,  South Korea& rsquo s biggest container line, fell victim to a global slump in trade that has depressed freight rates and led to losses, consolidation and job cuts among other shipping companies. The Seoul-based company sought protection after creditors halted all financial support, causing its ships to be    stranded  at sea and disrupting the global supply chain ahead of the year-end holiday season. 

The Seoul court, which established a committee to evaluate Hanjin, hasn& rsquo t determined what to do with Hanjin& rsquo s other operations including those moving goods between Asia and Europe, the spokesman said. Hanjin is required to submit its own proposal for revival by Dec. 23. 

Yesterday, the judge met with the evaluating officials, who are also helping the court to review a possible sale of Hanjin& rsquo s operations, the spokesman said. The court has yet to decide on the number of vessels or how many workers could be affected by a sale of the U.S.-Asia operations, he said. Hanjin Shipping had 1,428 employees as of June 30, according to its half-year financial report. 

Hanjin closed unchanged at 1,025 won in Seoul trading. The stock has plunged 72 percent this year, cutting its market value to about 251 billion won ($224 million). 

Its market share has also shrunk as customers defected, dropping to 1.3 percent as of Oct. 11 and making Hanjin the 17th biggest container line, according to shipping data provider Alphaliner.  Before the company& rsquo s filing, it was in seventh place and controlled 2.9 percent of the market.

http://www.bloomberg.com/news/articles/2016-10-11/seoul-court-considers-selling-hanjin-s-asia-u-s-trade-business
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GodOfTrader
Senior
12-Oct-2016 01:23     
 
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My view: As COSCOS would negotiate if Officials would sells Hanjin by Parts (Terminal Assets only).
                  COSCOS desired the Terminal Assets of Hanjin Shipping. 
                  % of COSCOS buying Terminals Assets had been raised from 0% to 33.3%
                  (In view of Officals approved to sell Hanjin by parts & also interests from CMA CGM and Maersk Lines who may be also eyeing on Hanjin Assets)

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Seoul Court Considers Selling Hanjin&rsquo s Asia-U.S. Business
>   Judge met officials on possible sale plan: court spokesman
>   Court intends to make decision on sale as soon as possible



The Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co. is considering a disposal of the sales-and-marketing network of the container line&rsquo s Asia-U.S. operations as part of efforts to raise funds at the indebted company.

The plan was set in motion after a detailed evaluation of the company under bankruptcy protection indicated its assets could be more valuable if sold in parts, a court spokesman said by phone Tuesday. A sale would include employees and customers of Hanjin subsidiaries involved in handling Asia-U.S. cargo as well as some vessels, he said. The court intends to make a decision as soon as possible, he said.

The effort to sell the company in parts comes after the court indicated last month that it would consider selling the entire container line, which sought bankruptcy protection in August. Hanjin,  South Korea&rsquo s biggest container line, fell victim to a global slump in trade that has depressed freight rates and led to losses, consolidation and job cuts among other shipping companies. The Seoul-based company sought protection after creditors halted all financial support, causing its ships to be  stranded  at sea and disrupting the global supply chain ahead of the year-end holiday season.

The Seoul court, which established a committee to evaluate Hanjin, hasn&rsquo t determined what to do with Hanjin&rsquo s other operations including those moving goods between Asia and Europe, the spokesman said. Hanjin is required to submit its own proposal for revival by Dec. 23.

Yesterday, the judge met with the evaluating officials, who are also helping the court to review a possible sale of Hanjin&rsquo s operations, the spokesman said. The court has yet to decide on the number of vessels or how many workers could be affected by a sale of the U.S.-Asia operations, he said. Hanjin Shipping had 1,428 employees as of June 30, according to its half-year financial report.

Hanjin closed unchanged at 1,025 won in Seoul trading. The stock has plunged 72 percent this year, cutting its market value to about 251 billion won ($224 million).

Its market share has also shrunk as customers defected, dropping to 1.3 percent as of Oct. 11 and making Hanjin the 17th biggest container line, according to shipping data provider Alphaliner. Before the company&rsquo s filing, it was in seventh place and controlled 2.9 percent of the market.

http://www.bloomberg.com/news/articles/2016-10-11/seoul-court-considers-selling-hanjin-s-asia-u-s-trade-business

 

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jayarumah
Master
10-Oct-2016 10:28     
 
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 Alert Admin 		it is a message , like direct and indirect like that....
maybe if he is a German Chinese, more chance lah

jayarumah      ( Date: 10-Oct-2016 10:25) Posted:

by the way, do u know why the Singaporean contestant cannot get Champion in the Singing Contest, .....long story.... you see...now and last time diff...long long time ago....
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jayarumah
Master
10-Oct-2016 10:25     
 
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 Alert Admin 		by the way, do u know why the Singaporean contestant cannot get Champion in the Singing Contest, .....long story.... you see...now and last time diff...long long time ago....
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amateurlearner
Member
10-Oct-2016 10:12     
 
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So shall buy some & keep for long term?

jayarumah      ( Date: 10-Oct-2016 09:57) Posted:

and i said it before, during the Restructuring Process, those who cannot perform will be Out.
More restructuring coming up for Cosco (S). the previous was mainly for Shipping Divisions only.
No.1 Man is making sure all state owned linked conpanies do not make state lose face.
yangzijiang, a private one, can do much better in so many aspects, thus...more will be Out !

jayarumah      ( Date: 10-Oct-2016 09:47) Posted:



Cosco , watch this. Same like Noble.   Abyss price , a lot don' t dare to buy. scared....fearful....

when it shoots up, then people rushing to buy. 

 

Possible Suitors :   CSSC   CSIC 


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jayarumah
Master
10-Oct-2016 10:08     
 
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 Alert Admin 		the immediate price reaction to my comments is good, i like it : )

typical Chinese way of doing things....

good to know this

jayarumah      ( Date: 10-Oct-2016 09:57) Posted:

and i said it before, during the Restructuring Process, those who cannot perform will be Out.
More restructuring coming up for Cosco (S). the previous was mainly for Shipping Divisions only.
No.1 Man is making sure all state owned linked conpanies do not make state lose face.
yangzijiang, a private one, can do much better in so many aspects, thus...more will be Out !

jayarumah      ( Date: 10-Oct-2016 09:47) Posted:



Cosco , watch this. Same like Noble.   Abyss price , a lot don' t dare to buy. scared....fearful....

when it shoots up, then people rushing to buy. 

 

Possible Suitors :   CSSC   CSIC 


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jayarumah
Master
10-Oct-2016 09:57     
 
jayarumah About Contact  Quote this Post!  
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 Alert Admin 		and i said it before, during the Restructuring Process, those who cannot perform will be Out.
More restructuring coming up for Cosco (S). the previous was mainly for Shipping Divisions only.
No.1 Man is making sure all state owned linked conpanies do not make state lose face.
yangzijiang, a private one, can do much better in so many aspects, thus...more will be Out !

jayarumah      ( Date: 10-Oct-2016 09:47) Posted:



Cosco , watch this. Same like Noble.   Abyss price , a lot don' t dare to buy. scared....fearful....

when it shoots up, then people rushing to buy. 

 

Possible Suitors :   CSSC   CSIC 

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jayarumah
Master
10-Oct-2016 09:47     
 
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Cosco , watch this. Same like Noble.   Abyss price , a lot don' t dare to buy. scared....fearful....

when it shoots up, then people rushing to buy. 

 

Possible Suitors :   CSSC   CSIC 
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GodOfTrader
Senior
10-Oct-2016 04:17     
 
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Edited: Cut at least Half of the Excess Jobs to maximise Merging Potential

Dear Cosco,
My suggestion is Cutting excess jobs by at least 1/2 to Maximise Merging Potential (this will also reduce Shipbuilding Costs hugely to maximise margins)  
Excess workforce should be reduced drastrically to reflect the True Potential of Merging!!  BOLD DECISION NEEDS TO BE MAKE TO BECOME A FORMIDABLE 3RD BIGGEST SHIPBUILDING GROUP IN CHINA!! 

Merger Between Cosco, China Shipping  to Cut Down Shipbuilding Costs 

Last year, the two companies have already combined their fleets and port operation, which created the China Cosco Holdings, the world' s fourth biggest container operator.
The recent merger is seen to create the third biggest shipbuilding group in China 

Chinese industry officials said that the combined workforce of the two companies reach more than 25,000 as the government tries to avoid job losses. The merger will be used as a model by the government in a planned merger of the country' s biggest shipbuilders: China Shipbuilding Corp. and China Shipbuilding Industry Co. 

http://en.yibada.com/articles/165677/20161009/merger-cosco-china-shipping-cut-down-shipbuilding-costs.htm 
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GodOfTrader
Senior
10-Oct-2016 03:47     
 
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http://en.yibada.com/articles/165677/20161009/merger-cosco-china-shipping-cut-down-shipbuilding-costs.htm

GodOfTrader      ( Date: 10-Oct-2016 03:46) Posted:



Dear Cosco,
My suggestion is Cutting excess jobs by 1/3 will be able to cut down Shipbuilding Costs hugely to maximise margins.  Excess workforce should be reduced drastrically!!
BOLD DECISION NEEDS TO BE MAKE TO BECOME A FORMIDABLE 3RD BIGGEST SHIPBUILDING GROUP IN CHINA!!

Merger Between Cosco, China Shipping to Cut Down Shipbuilding Costs

Last year, the two companies have already combined their fleets and port operation, which created the China Cosco Holdings, the world' s fourth biggest container operator.
The recent merger is seen to create the third biggest shipbuilding group in China

Chinese industry officials said that the combined workforce of the two companies reach more than 25,000 as the government tries to avoid job losses. The merger will be used as a model by the government in a planned merger of the country' s biggest shipbuilders: China Shipbuilding Corp. and China Shipbuilding Industry Co.

 

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GodOfTrader
Senior
10-Oct-2016 03:46     
 
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Dear Cosco,
My suggestion is Cutting excess jobs by 1/3 will be able to cut down Shipbuilding Costs hugely to maximise margins.  Excess workforce should be reduced drastrically!!
BOLD DECISION NEEDS TO BE MAKE TO BECOME A FORMIDABLE 3RD BIGGEST SHIPBUILDING GROUP IN CHINA!!

Merger Between Cosco, China Shipping to Cut Down Shipbuilding Costs

Last year, the two companies have already combined their fleets and port operation, which created the China Cosco Holdings, the world' s fourth biggest container operator.
The recent merger is seen to create the third biggest shipbuilding group in China

Chinese industry officials said that the combined workforce of the two companies reach more than 25,000 as the government tries to avoid job losses. The merger will be used as a model by the government in a planned merger of the country' s biggest shipbuilders: China Shipbuilding Corp. and China Shipbuilding Industry Co.

 
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GodOfTrader
Senior
07-Oct-2016 02:55     
 
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Dear Cosco,
Restructuring is good, merger will be able to significantly reduces costs. After Merger, my advise is to cut unnecessary jobs & CLAIM YOUR RIGHTFUL PLACE IN THE MARKET!!  
You need to prepare for attack on profitable cruise industry, profitable european lanes, biggest ship repair center connecting ASIA to EUROPE / MIDDLE EAST. RISE TO YOUR POSITION & UNLEASE THE POWER OF YOUR FULL POTENTIAL!!! YOUR TIME IS NOW!!!

Cosco, China Shipping to Merge Shipbuilding Arms
Combination will create China&rsquo s third biggest shipbuilding group

China&rsquo s two biggest  state-owned shipping companies plan to merge 11 shipbuilding yards into a single entity in one of the industry&rsquo s biggest consolidation moves .  If it goes ahead, the merger of the shipyards of  China Ocean Shipping (Group) Co., or Cosco Group, and China Shipping Group Co. is expected  to be announced by early next year, the people said.  China builds roughly half of the world&rsquo s new ships

The two companies had already combined their fleets and port operations last year to create  China Cosco Holdings,  the world&rsquo s fourth biggest container operator in terms of capacity. The combination of their shipbuilding arms will create China&rsquo s third biggest shipbuilding group.  Cosco owns six yards and China Shipping Group owns five. Cosco also operates two joint-venture yards with Japan&rsquo s  Kawasaki Heavy Industries  Ltd.

&ldquo The Cosco-China Shipping yard merger will be supported from shipbuilding and repairs for the fleets of the two conglomerates that have already merged their shipping operations,&rdquo said Mr. Xiradakis.

http://www.wsj.com/articles/cosco-china-shipping-to-merge-shipbuilding-arms-1475688293


Cosco&rsquo s three-pronged focus on future Piraeus port investment

&ldquo The Chinese people are getting better acquainted with Greece, which is now an attraction for thousands of Chinese tourists and has become fashionable in China following the news coverage on Cosco&rsquo s strategic cooperation with Piraeus Port Authority,&rdquo stated Xu Lirong, the head of China Cosco Shipping Corporation Limited, at the opening of the new cruise terminal at Aghios Nikolaos in Piraeus on Monday.

&ldquo Cruise passenger traffic in the port currently numbers about 1 million per year. Our short-term target is to raise that figure to 1.5 million while our long-term target is 3 million,&rdquo he added, before saying Cosco would also accelerate investment for the further expansion of the cruise port.

The Cosco chief, who was in Greece for 24 hours, spoke about upgrading the existing infrastructure and constructing new buildings and facilities, along with drastically improving services. Speaking to Kathimerini, he reiterated that the immediate, three-pronged priority of the Cosco investment is cruise tourism, ship repair and the container terminals, along with the development of other activities such as the vehicle transit center and the passenger port.

Cosco has committed to first completing the initial stage of the cruise port&rsquo s expansion, as agreed to in the Piraeus Port Authority (OLP) privatization contract. Once it has completed that, it will move its focus to the second stage, to which it has made a verbal commitment, creating a total of six docking slots able to host the world&rsquo s biggest cruise liners. The first stage concerns investment of 136 million euros, with the costs of the second stage taking the sum to about 200 million.

The project inaugurated on Monday by the Cosco chairman, at a budget of 7.5 billion euros not including value-added tax, was first auctioned to a contractor back in 2010, with a contractual delivery period of seven months. However, for a number of reasons, the project ground to a halt and in 2014 OLP decided to terminate the concession contract as, according to sources, no more than 35 percent of the work had been completed.

After a long court battle with the previous contractor, and facing the risk of missing out on vital European Union funding because of the delays, OLP reauctioned the cruise terminal construction project. The project was eventually conceded to TEKAL SA, the construction firm which built the docks of Piraeus Container Terminal (PCT), the local subsidiary of Cosco. The project&rsquo s construction started on May 17 this year and was finally delivered on September 10.

http://www.ekathimerini.com/212602/article/ekathimerini/business/coscos-three-pronged-focus-on-future-piraeus-port-investment
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GodOfTrader
Senior
06-Oct-2016 03:17     
 
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Today Song for Cosco is:  《 可 否 冲 破 》
https://www.youtube.com/watch?v=w6j7SPvthzY& index=7& list=FLIGZIWveB2xf_-PhUBfo0Mg
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GodOfTrader
Senior
06-Oct-2016 01:01     
 
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Dear Cosco,
Be Courageous & Continue to build your China Silk Road (One Belt One Road Vision). Do not be afraid, for Destiny is with you!
Fulfill your Destiny!! Propel forward like your great ancestor, Genghis Khan, sweeping over multiple opponents with Great Force!

China&rsquo s COSCO aims to double Piraeus cruise passengers numbers

ATHENS (Reuters) &ndash China&rsquo s biggest shipping company wants to more than double the number of cruise passengers using Greece&rsquo s biggest port by extending facilities for bigger ships, its chairman said on Monday.

COSCO Shipping, which owns the world&rsquo s fourth-largest container shipping fleet, bought 51% of the port&rsquo s operating company for 280 million euros ($315 million) this year, one of Greece&rsquo s biggest and most strategic privatisations since a debt crisis began in 2009.

Containers from China Ocean Shipping Company (COSCO) are pictured at a port in Shanghai, China, February 17, 2016. 

Tourism has long been Greece&rsquo s main cash earner, accounting for about 17% of its 185 billion euro economic output and employing one in five people.

&ldquo The movement of cruise passengers is around 1.1 million a year at present,&rdquo COSCO Shipping chairman Xu Lirong said during a ceremony at Piraeus launching new docking space for cruise ships.

&ldquo Our short term goal is to increase it up to 1.5 million, and 3 million in the longer term.&rdquo

Xu said Pireaus would be extended for new docking space for next generation cruise ships, which would be bigger and &lsquo more luxurious&rsquo .

&ldquo The quality of services will be upgraded, and there is plenty of potential for future growth in this sector,&rdquo he said through an interpreter.

Tourism body SETE sees tourism revenues rising 1 to 2% to about 15 billion euros this year, anticipating 27.5 million visitors including cruise passengers.

Cruise shipping attracted some 5 million passengers last year, accounting for about 12% of Piraeus Port&rsquo s revenues of 100 million euros.

Under the privatisation deal with Greece, COSCO must conclude investments of about 300 million euros in five years before buying an additional 16% stake in the port.

COSCO has said additional investment would be used mainly to upgrade ship repair, logistics and cruise operations.

COSCO has been managing two of the port&rsquo s cargo piers through its Greek unit, PCT, since 2009, when the debt crisis shut out the nation from debt markets and scared investors away.

The shipping group has spent millions of euros to upgrade port facilities and annual throughput has more than tripled to 3.3 million TEUs last year from 880,000 TEUs in 2010. It is projected to reach 3.7 million this year.

http://atimes.com/2016/10/chinas-cosco-aims-to-double-piraeus-cruise-passengers-numbers/


Cosco Announces Short and Long-Term Plans to Expand Port of Piraeus and Boost Tourism

On Monday the chairman of China&rsquo s  Cosco, Xu Lirong, made announcements that came as a welcome gesture to the tourism sector, according to Reuters.

It was announced that there are plans that will be implemented both  short-term and long-term, to extend the facilities at the  port of Piraeus  that will accommodate bigger ships. With the extension,  Cosco plans to more than double the number of cruise passengers and increase tourism substantially.

&ldquo The movement of cruise passengers is around 1.1 million a year at present,&rdquo Xu Lirong said at a ceremony at the port of Piraeus as the launch plans for new docking space for cruise ships was discussed.

&ldquo Our short-term goal is to increase it up to 1.5 million, and 3 million in the longer term.&rdquo

Xu added that the port of Piraeus would be extended for new docking space to be used by next-generation cruise ships, which would be bigger and &ldquo more luxurious.&rdquo

http://greece.greekreporter.com/2016/10/04/cosco-announces-short-and-long-term-plans-to-expand-port-of-piraeus-and-boost-tourism/
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happyharvest
Elite
05-Oct-2016 22:24     
 
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Will it go up above $1 again? I think it would but wait long long lo
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halleluyah
Supreme
05-Oct-2016 17:32     
 
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haha...selling backside...kah kee own cash flows better jaga ho ho is enuf....lol

mepkoh      ( Date: 05-Oct-2016 16:58) Posted:



off course every body want to acquire evry thing..n becomes biggest of them all..

but cosco no money..how to acquire..issu bonds to you??

GodOfTrader      ( Date: 03-Oct-2016 23:20) Posted:



Dear Cosco,
Acquire terminal assets if Hanjin is willing to negotiate.
Do not forget that the time for success is in Synchornization of all assets (Shipyards, Carriers & Terminals) & Defeating Top opponent Maersk Line through acquiring more Terminals.  Then build China Silk Road (One Belt One Road Vision) across SEA & EUROPE lanes. Then your destiny can be fulfilled.

Cosco Shipping can acquire terminal assets of bankrupted Hanjin
The Chinese company Cosco Shipping can acquire terminal assets of the bankrupted South Korean carrier Hanjin Shipping, consisting of two container terminals in South Korea and one in the port of Long Beach, California. The negotiations for transaction are in early stage, but might complete in recent months. The finance details of transaction are not yet disclosed, but it is under approval from the concerned anti-trust authorities. However, Cosco is only interested in terminal assets of Hanjin Shipping and not willing to buy some of the vessels of the bankrupted container carrier.

We would like to study it if it&rsquo s put on the table and if there&rsquo s a willingness to sell on Hanjin&rsquo s part&rdquo , said chairman of Cosco Shipping, Xu Lirong. &ldquo We have no plans to buy the South Korean liner&rsquo s vessels&rdquo , added he.

Hanjin Shipping has filed in Central District Court in Seoul for bankruptcy on August 31, forming the largest fault in container industry in the world&rsquo s history. The company is currently the seventh largest container line min terms of capacity. The Central District Court in Seoul overseeing the bankruptcy protection of Hanjin said that it was considering a sale of the entire company, but no giving specific details.

http://www.maritimeherald.com/2016/cosco-shipping-can-acquire-terminal-assets-of-bankrupted-hanjin/

 



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