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what ! ? Xu Lirong now the Chairman of Cosco ?
we were buddies 8 years when once upon a time i was in shanghai.
i got to link him up for a drink or 2 in my next trip : )
good news for me !
we were buddies 8 years when once upon a time i was in shanghai.
i got to link him up for a drink or 2 in my next trip : )
good news for me !
GodOfTrader ( Date: 03-Oct-2016 23:20) Posted:
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looks like next two days this counter will propel upwards...
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:
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Bye bye i exit china ah kong' s ship liao.....
time for this to move....
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/
Dear Cosco,
Stand up for China, do not let people belittle your potential to become the regional player.
Fulfill your destiny :)
Cosco plans for Piraeus steam ahead
The upcoming visit to Athens by the chairman of China Cosco Shipping Corporation Ltd, Xu Lirong, will signal the start of the Hong Kong-listed firm&rsquo s strategic planning and investment in Piraeus.
The visit by the head of the Chinese group, who will meet with top government officials, coincides with the completion of Piraeus Port Authority&rsquo s (OLP) new cruise terminal at Aghios Nikolaos and the successful conclusion to pilot operations at the western part of Container Terminal III, which will soon be delivered for full operation.
Those are investments prepared by OLP and Cosco&rsquo s local subsidiary that had started long before the acquisition of OLP by the Chinese company.
The Cosco chief will also be presented with the timetable of the investment plan of the group for OLP: Cosco will invest 200 million euros in the long run for the equipment and upgrading of the ship-repair zone&rsquo s infrastructure.
Part of that investment is not included in the 350 million euros that Cosco is bound by the OLP sale contract to implement, and mainly concerns shipbuilding and the installation of floating docks capable of serving the biggest vessels in the world.
http://www.ekathimerini.com/212493/article/ekathimerini/business/cosco-plans-for-piraeus-steam-ahead
COSCO signs agreement to double Port Khalifa capacity
Abu Dhabi Ports has signed a concession agreement with COSCO Shipping Ports for the operation of its new 18m deep, 1.8km long Khalifa Port Container Terminal 2 in Khalifa Port.
COSCO Shipping Ports and Abu Dhabi Ports have entered into a joint venture as part of the agreement, the new company, COSCO Shipping Ports Limited &ndash Abu Dhabi (CSPL SPV), will be a wholly-owned subsidiary of COSCO Shipping Ports Limited.
The company is one of the leading container terminal operators in the world and a subsidiary of China COSCO Shipping Corporation Limited.
The first 800 metres of the quay length (and the corresponding Concession Area) is expected to commence operations in the first half of 2018 while the remaining 400 metres (and the corresponding expanded Concession Area) is expected to commence operations in 2020.
Once the expansion areas are occupied, the Concession Area will span an area of approximately 70 hectares with 3 berths, which will add 2.4 million TEU a year to the port&rsquo s existing capacity of 2.5 million TEU.
The 35-year agreement includes the option for a further 600 metre of quay length in the future to allow for anticipated volume growth, the nominal annual handling capacity will increase to 3.5 million TEU when all phases are complete, creating a new overall annual capacity of up to 6 million TEU.
CSPL SPV will have the controlling stake in the joint venture company, which will be entitled concession rights of Khalifa Port Container Terminal 2 for a span of 35 years, with a renewable period of 5 additional years.
&ldquo The signing of the concession agreement between Abu Dhabi Ports Company and COSCO Shipping Ports Limited will significantly expand trade between China, the UAE and the broader region,&rdquo said Dr. Sultan Ahmed Al Jaber, UAE minister of state and chairman of ADPC. &ldquo It will greatly enhance the UAE and Abu Dhabi&rsquo s role as a key logistics and trading hub, between East and West and will also serve to further diversify the UAE&rsquo s dynamic and growing economy.&rdquo
&ldquo With the development of China&rsquo s &ldquo One Belt One Road&rdquo strategy, there is boundless potential for expanding the UAE-China relationship further. We look forward to closer collaboration with China and to creating even greater economic progress for both our nations in the years ahead,&rdquo added Dr Al Jaber.
Wan Min, president of China COSCO Shipping Corporation Limited, said Abu Dhabi&rsquo s Khalifa Port is a strategic hub along the &lsquo One Belt One Road&rsquo , with significant geographical advantage for the development of terminal and logistics businesses
&ldquo Khalifa Port Container Terminal 2 will be the second overseas terminal in which COSCO Shipping Ports holds the controlling interest,&rdquo he added. &ldquo With the strong support from the large container shipping fleet of COSCO Shipping Group, COSCO Shipping Ports will dedicate its efforts to develop Khalifa Port Container Terminal 2 as a hub of the Upper Gulf region in the Middle East for international container shipping liners.&rdquo
The expansion of the quay wall and new concession agreement is part of the broader developments at the Khalifa Port, which include a new terminal booking, tracking and transaction system for sea and land based users, advanced RoRo facilities, new liner calls, the development of a regional liner hub and transhipment business to South Asia, as well as the addition of approximately 14.5 million square metres now leased in the adjacent Khalifa Industrial Zone (KIZAD).
http://www.arabiansupplychain.com/article-12736-cosco-signs-agreement-to-double-port-khalifa-capacity/
You not tired, huh? Why keep predicting and stuck with the boat which goes nowhere?
If you have bought Alliance/Anchor/Spackman or even CNMC[which you condemned], you would have made pile of $$$$$$.
GodOfTrader ( Date: 29-Sep-2016 03:21) Posted:
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HOOT SOME COSCO..................go go
Share ur view. They will build their own, especially also given the need to support sagging growth at home - they are pumping quite substantially into fiscal stimuli. If they buy overseas, it' s usually infrastructural n strategic assets like ports n coys that will, going forward, ensure n entrench their global economic dominance n/or supply of essentials. I always look at it as China' s quiet economic colonisation of the world which perhaps a lot of people might realise only when it' s too late ....
Observers ( Date: 29-Sep-2016 05:17) Posted:
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I don' t think Cosco Corp (container) will buy into Hanjin' s ships, maybe interested in their non-ship assets only.
The Chinese govt want to support their own shipbuilding industry, I think they rather subsidise the building of new more modern, efficient ships at a slight loss in their own Chinese yards giving jobs to Chinese workers, than to buy old second hand from Hanjin.
Strategies (My Personal View- which may/ may not be true):
Having missed to buy NOL, Maersk Line had been a defensive position. It, however, can adjusting lower freight rates over the years & increasing port charges to deter competitors.
This, however, backfired and ate into Maersk Line Profit Margin which had been declining by competing on freights. Instead of turning to its own advantages, Maersk Line backed out last minute on acquistion of NOL due to only want to buy profitable part of NOL (Over Cautious & want to take the safe route).
CMA CGM, however, saw the golden opportunity - bought & merged with NOL. It is when almost 8 out of 10 shipping news publishers are negative about NOL acquistion. Once again, CMA CGM proved the shipping news publishers wrong. The underdog had risen! It eventually enter into partnership with ,COSCOS (Merger of China Shipping & Cosco)- who also saw the need for merger and is a formidable opponent. The Alliance of CMA CGM & COSCOS in next half of 2017 itself will be a very formidable structure, excluding the smaller shipping companies.
The Fight on Hanjin Shipping: It belongs to either Maersk Line or CMA CGM, because only these 2 had the financial muscle to absorb Hanjin Shipping. However, Hanjin Shipping is differet from NOL case thus it may not be worthwhile. MSC will likely be watching at sideline, with no intent to buy. COSCOS will likely be uninterested as the key is to properly execute its restructuring and align its shipping, terminals, shipyard business with new ports and terminals recently acquired.
My Suggestion for CMA CGM & COSCOS Alliance: - Partnership together as a team and Target agressively on all Maersk Line - Europe lanes, which is the most profitable pie.
- Enter alliance sooner if possible to get the most out of it. (Speed is essential to optimal success)
- Give business and support each other (whether is equipment sharing, terminals or new ship building.etc
Nice Song (三 顧 茅 廬 之 有 為 歌 ):
https://www.youtube.com/watch?v=aztbCihDVOY& index=2& list=FLIGZIWveB2xf_-PhUBfo0Mg
1) Another Container Terminal (in Abu Dhabi， Khalifa Port) had arised:
China' s Cosco wins Abu Dhabi container terminal deal
http://www.tradearabia.com/news/IND_314295.html
Cosco Shipping Signs $738 Million Deal to Expand U.A.E. Port
http://www.bloomberg.com/news/articles/2016-09-28/cosco-shipping-signs-738-million-deal-to-expand-u-a-e-port
Cosco Shipping to operate and build a terminal in Khalifa Port
http://gulfnews.com/business/sectors/shipping/cosco-shipping-to-operate-and-build-a-terminal-in-khalifa-port-1.1903653
2) On Hanjin Takeover- Possibility lies higher with Maersk Line/ CMA CGM
My take: COSCOS should not try to takeover, but focus on its own development on port and terminals synergies with its different business line to target the world (一 统 天 下 )
China' s COSCO Shipping may consider buying Hanjin Shipping' s port assets: Caixin
http://www.reuters.com/article/us-hanjin-shipping-m-a-cosco-shipping-idUSKCN11Y1H3
Hanjin takeover not on Cosco radar
http://www.tradewindsnews.com/liner/870676/hanjin-takeover-not-on-cosco-radar
各 由 天 命 ,
天 道 不 可 伪
Each to his own destiny,
Heaven Will is destined.
famouspinky ( Date: 27-Sep-2016 06:02) Posted:
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U r right on this pal. Most don't and very obstinate about it. Know or don't? Ignorance is expensive.
GodOfTrader ( Date: 22-Sep-2016 19:30) Posted:
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" If everything goes well in Piraeus Port Development, Cosco Corporation breaking $0.34 to $0.38/ above will be a slice of cake"
COSCOS will become the " Largest South East Asia Carrier, Ports & Terminals, Shipyards" with great underlying potentials to penetrate the Europe sectors.
Cosco aims for top 30 global boxport status for Piraeus
Container traffic overseen by China' s Cosco in the Greek port of Piraeus continues on its record breaking way, further consolidating its position as the main pillar of the Chinese group&rsquo s overseas activity and the port&rsquo s new owner intends to build on this.
Piraeus port&rsquo s new md, Fu Cheng Qiu, has set out his target for Greece&rsquo s biggest port to be placed among the world&rsquo s 30 largest container hubs.
Fu told Reuters the terminal operator, Cosco Shipping Ports (CSP), plans to increase container volume in Piraeus 35% by 2018 to 5m teu, under its plan to turn Greece into a transhipment hub for rapidly growing trade between Asia and Eastern Europe.
Cosco, which controls the world&rsquo s fourth-largest container ship fleet, officially took over a 51% majority stake in the port last month for EUR280.5m ($315.5m). In five years it will get another 16% having pledged to make total investments of around EUR300m, largely focusing on ship repair and cruise operations.
&ldquo If we reach that level [of containers]... Piraeus port would be among the world&rsquo s 30 largest container ports,&rdquo said Fu.
Privatization of Piraeus was the most controversial deal in the years of crisis for Greece. Labour unions have opposed the Cosco takeover fearing job losses and wage cuts under the new administration.
Fu said: &ldquo Cosco is very careful and very serious about these issues and is handling them in line with the law.&rdquo
Meanwhile, official data released mid-month, showed the Piraeus terminals II and III operated by the Hong Kong-listed CSP handled 329,600 teu in August, up 32.3% from the same month in 2015. In August last year the negative impact of the strict capital controls had started to become clear and total traffic was just 249,100teu.
Records were broken each month in the 2016 summer, with 314,000 teu in June and 323,300 teu in July. On top of this terminal I, which until August when Cosco moved was controlled by the Piraeus Port Authority is set to now chip in with another 200,000 teu annually.
Further, a new 300,000 dwt capacity floating dock is making its way, to Piraeus from Shanghai, to become the centre piece of a large ship repair base, planned by port&rsquo s the new owners. Such a dock would be among the largest in the region, capable of handling almost any ship afloat.
http://www.seatrade-maritime.com/news/asia/cosco-aims-for-top-30-global-boxport-status-for-piraeus.html
Oh, but just to clarify that the official legal entity of the " COSCO" listed on SGX is " COSCO Corporation (Singapore) Limited" . N the entity listed on SGX does have a dry bulk shipping business. So, if the Hanjin collapse does result in a sustained uptrend of dry bulk rates, then it' d have a +ve impact on CS.
Qanghoo ( Date: 23-Sep-2016 06:03) Posted:
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This is my pt, n i put a ? mark at the end. If nothing to do with CS, then we might be giving others the wrong impression that CS is onto something +ve, which might not be the case, right?
happyharvest ( Date: 22-Sep-2016 18:45) Posted:
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