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Tag Archives: Cosco

China, Greece Agree to Push Ahead with COSCO’s Piraeus Port Investment

November 11, 2019 by Reuters COSCO plans to turn Piraeus port into the biggest commercial harbour in Europe, spending about 600 million euros ($660 million) to boost operations ATHENS, GREECE – China and Greece agreed on Monday to push ahead with a 600 million euros ($660 million) investment by COSCO Shipping into Greece’s largest port, Piraeus, as part of efforts to boost …

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COSCO Tankers Go Dark Amid U.S. Sanctions

October 9, 2019 by Reuters By Shu Zhang and Roslan Khasawneh SINGAPORE, Oct 9 (Reuters) – About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed. From Sept. 30 to Oct. 7, a total of 14 COSCO …

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$12 Million: Tanker Rates Soar to New Record as U.S. Sanctions on COSCO

October 4, 2019 by Reuters NEW YORK, Oct 4 (Reuters) – Freight rates to ship U.S. crude to Asia continued to surge, with costs to charter a supertanker rising to a record $12 million on Thursday, shipping sources familiar with the matter said. South Korea’s top refiner, SK Energy, tentatively chartered the supertanker Maxim to ship U.S. crude to South Korea in …

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Cosco Shipping names long-awaited new president

Fu Gangfeng of Cosco Shipping

PortandTerminal.com, September 10, 2019 Fu Gangfeng, president of China Merchants Group since February 2018, takes up the new role as second-in-command at Cosco Shipping China Cosco Shipping Group has announced the appointment of Fu Gangfeng as its new president, the second-in-command role at the group. Previously, Fu was the president of China Merchants Group since February 2018. The president role …

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Greek port’s COSCO owners resubmit investment plan

Photo of a container ship arriving at the Port of Piraeus in Athens, Greece

PortandTerminal.com, August 24, 2019 The Port of Piraeus is the largest port in Greece and one of the largest in Europe serving as the main sea gate of the European continent at its southeastern edge. ATHENS, GREECE – COSCO, the Chinese-owned owner and operator of Greece’s Piraeus port, resubmitted its 800-million-euro ($US 900 million) investment master plan to the state …

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US warns Peru on China. Peru moves ahead with Chinese port investment anyway

Photo of United States Secretary of State Mike Pompeo giving speech in Peru

PortandTerminal.com, May 16, 2019 Port of Chancay will be Cosco’s first greenfield subsidiary in South America. China’s Cosco Shipping Ports Ltd signed a $3 billion deal with Peru’s Volcan Compania Minera to invest in the port of Chancay on the South American country’s Pacific coast. The port is the company’s first greenfield subsidiary in South America. Port of Chancay Port …

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Yilport in talks for $2 billion California terminal deal

PortandTerminal.com, March 22, 2019 Long Beach, CA – Turkey’s Yilport Holding is in advanced talks to buy Long Beach Container Terminal (LBCT), a deal that would value the facility at close to $2 billion, according to a report by Bloomberg yesterday. Cosco is selling Long Beach facility to appease regulators Container terminal ownership at the Port of Long Beach: COSCO …

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Who owns the container terminals at the Port of Long Beach?

Peter Stewart, PortandTerminal.com, January 20, 2019 Long Beach, California – China’s influence at the Port of Long Beach has increased dramatically since its state-owned shipping line COSCO’s acquisition of rival shipping line OOCL. To get the deal approved COSCO has promised to sell off part of their container terminal stake at the port to quell the fears of regulators. Background …

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