• 2020 March 31 10:08

    COSCO SHIPPING Holdings announces 2019 results

    On March 30, COSCO SHIPPING Holdings Co., Ltd. announced its 2019 annual results.

    During the Period, according to China Mainland Accounting Standards, the revenue of the Company reached RMB151.06 billion, up by 25.0% year-on-year. The net profit attributable to equity holders of the Company amounted to RMB6.76 billion, representing a year-on-year increase of RMB5.53 billion or 449.9%, and the basic earnings per share amounted to RMB0.56 per share. Net profit attributable to equity holders of the Company after deduction of non-recurring amounted to RMB1.59 billion, representing a year-on-year increase of RMB1.40 billion or 732.8%.

    During the Period, for the “dual-brand” container shipping business, the Company handled shipping volume of 25,739,103 TEUs, up by 18.1% as compared to 2018, if on the comparable basis, representing a year-on-year increase of 2.7%. Among which, COSCO SHIPPING Lines handled the shipping volume of 18,784,961 TEUs, representing a year-on-year increase of 2.3%, and Orient Overseas Container Line Limited (OOCL) handled the shipping volume of 6,954,142 TEUs, representing a year-on-year increase of 3.8%. COSCO SHIPPING Ports achieved a total throughput of 123.78 million TEUs, representing a year-on-year increase of 5.5%.

    Benefited from the significantly improved operating results and the approximately RMB7.7 billion raising through the A-share private placement in the beginning of 2019, the Company’s financial situation has been further improved, and the financial foundation has been further consolidated.

    In 2019, COSCO SHIPPING Holdings adhered to the globalization strategy and keenly grasped opportunities in the market. On the basis of maintaining the competitive advantages of the major east-west services, the Company optimized and adjusted its capacity allocation structure and cargo structure to improve presences in emerging markets and regional markets. The cargo volume of the Company’s container shipping business in emerging markets and non-China markets increased by 7.0% and 7.9% year-on-year respectively, much higher than the overall volume growth rate on the comparable basis(2.7%). The ratio of the Company’s non-China cargo volume to the total foreign trade volume increased from 35.5% in 2018 to 37.0%. The Company further consolidated its foundation for global development and enhanced its ability to resist regional and periodic risks.

    The Company actively promoted the construction of digital shipping. In July 2019, CargoSmart, a subsidiary of COSCO SHIPPING Holdings announced the execution of Global Shipping Business Network (GSBN) services agreements with other maritime industry operators. Under these agreements, each signatory commits to establish the GSBN, a non-profit joint venture to accelerate the digital transformation of the shipping industry. In early 2020, all parties concerned signed the GSBN Shareholder Agreements. GSBN will be formally established and put into operation after completing all the regulatory approval procedures, while CargoSmart will provide technical solutions and platform operation services.

     

     

     

     

     




2020 June 6

15:31 USCG, President Eisenhower rescue mariner 500 miles offshore
14:08 First contract for subsea innovation from Kongsberg
12:37 Eidesvik secures extention of time charter for PSV Viking Lady
11:47 Wärtsilä’s Data-Driven Dynamic Maintenance Planning solution optimises engine maintenance
10:52 CMA CGM announces first quarter 2020 results

2020 June 5

18:21 Mezhregiontruboprovodstroy appointed as sole contractor for construction of Utrenny terminal
18:05 CMA CGM announces FAK rates from Europe to Indian Ocean Islands
17:35 Teesport welcomes largest containership
17:05 EUROGATE Intermodal appoints Christopher Beplat as a new managing director
16:50 Russian Railways: Loading of export cargo bound for domestic ports up 6.4% in May 2020
16:35 DNV GL performs over twenty remote wind turbine inspections globally in times of COVID-19 related-travel restrictions
16:05 Gasum performs first LNG bunkering to Heerema’s Sleipnir
15:28 Acquisition and recapitalisation of Royal IHC finalised
14:18 First of two Austal's 118 metre trimarans for Fred. Olsen completes sea trials in Australia
13:56 Rosmorrechflot announces new competition for construction of Bagayevsky hydrosystem
13:29 Zvezda Shipyard stars cutting steel for yet another Aframax tanker
13:01 Keppel enters into framework deed with Borr Drilling to defer scheduled delivery of rigs
12:01 Port of Rotterdam Authority decides to hold RFT for transport service along Container Exchange Route
11:47 Yevgeny Ditrikh takes helm of STLC Board of Directors
11:04 The second largest container vessels in the world, now has its “Socarrat”
10:41 Oil prices rise within $1
10:28 Marseille Maersk sets up new record for the port of Rotterdam
10:23 Training exercise held with rescuers of RF Navy’s Northern fleet to assist emergency ship in the Arctic
10:00 RF Navy's oceanographic research vessel Admiral Vladimirsky entered the North Sea
09:39 Bunker prices rise at the port of Saint-Petersburg, Russia
09:18 Baltic Dry Index on June 4
08:46 MABUX: Bunker market this morning, June 05

2020 June 4

18:20 Wärtsilä to supply Europe's most modern simulator for inland shipping training
18:02 Dutch innovative app trains 10,000 process industry workers in Singapore during Covid-19 lockdown
17:47 Singapore Maritime and Ports Authority issues guidelines for crew change
17:25 Gasum performs first LNG bunkering to Heerema’s Sleipnir
17:02 China Merchants Group's emergency working group of the prevention and control of COVID-19 holds 20th meeting
16:34 Throughput of port Vysotsk in 5M’2020 fell by 24.2% Y-o-Y
16:02 Diana Shipping announces time charter contract for m/v G. P. Zafirakis with Koch
15:41 NS Power's crew rescues two people in the Andaman Sea
15:23 RS Rules update: hybrid propulsion
15:02 Grimaldi boosts its Italy-Greece connections
14:32 DNV GL and ABB launch new MOU to advance marine digitalization with a remote signing ceremony
14:02 150 trapped eels rescued at the Port of Gothenburg
13:48 Bunker price are stable at the Far East ports of Russia (graph)
13:31 MSC Mediterranean Shipping Company extends the seasonal blanking programme on its Asia–Europe network
13:01 Wärtsilä offers new remote service to overcome Covid-19 travel restrictions
12:31 DEME to build the Scheldt tunnel
12:03 Havyard presents new design concept for zero-emission sightseeing vessels
11:45 Annual throughput of Murmansk Transport Hub to be raised to 100 million tonnes
11:23 Construction of automated gate complex commences at APM Terminals Aarhus
11:10 Port of Zeebrugge joins the International Port Community Systems Association
10:58 Jiangnan Shipyard and Gabadi teams complete construction of the first LNG tank as part of an LNG-fuelled container ship project
10:57 AS Tallink Grupp Statistics for May 2020
10:33 More departures added for Helsinki-Tallinn route vessel Star from 4 June 2020
10:11 Oil prices go down by 1.48%-2.06%
10:00 CMA CGM cancels Low Sulphur Surcharge from July 1st, 2020
09:52 Russia’s leading shipping companies suggest development of ATB services by the USA example
09:40 PIER71 launches Smart Port Challenge 2020 with New Venture Capital Partners for maritime tech start-ups investments
09:36 MABUX: Bunker market this morning, June 04
09:14 Baltic Dry Index on June 3

2020 June 3

18:25 Russia's Main Department of State Expertise approves construction of operational water area under Obskiy LNG project
18:03 Cargotec’s Kalmar and MacGregor to help drive development of connected automated waterborne transport through participation in AEGIS project
17:46 Rosmorport announced tender to reconstruct coastal facilities of Vanino-Kholmsk ferry service
17:24 RF Government approved allocation of RUB 60.5 billion for Russian Railways’ BAM and Transsib projects in 2020