01199 COSCO SHIP PORT
- 4.600
- -0.060-1.29%
COSCO SHIP PORT News
COSCO SHIP PORT (01199.HK) appointed Chen Shuai as a non-executive Director.
Gelonghui, December 24: COSCO SHIP PORT (01199.HK) announced that due to work arrangements, Zhang Wei has resigned from the position of non-executive Director, effective December 24, 2024. Starting from December 24, 2024, Chen Shuai has been appointed as a non-executive Director.
Market Update︱Shipping stocks rise again, OOIL rises over 8%, shipping companies recently announced a price increase notice for January.
Recently, shipping companies announced a new round of freight rate adjustment plans for January 2025. Companies such as Maersk, CMA, and HMM have successively adjusted rates for some routes.
COSCO Shipping Holdings (01919.HK) has increased its shareholding in COSCO SHP SG by 12% for over 2.1 billion yuan.
COSCO Shipping Holdings (01919.HK) announced the acquisition of a 12% stake in COSCO SHP SG from its controlling Shareholder, COSCO Shipping Holdings, for 2.143 billion yuan. Upon completion, the company will Hold a 19% stake in COSCO SHP SG. This Trade will help the company build an integrated operation system of 'container shipping + ports + related Logistics.'
BOC HONG KONG (02388.HK) and COSCO SHP SG are launching an electronic service platform for cargo container shipping.
BOC HONG KONG (02388.HK) and COSCO SHP SG have collaborated to launch a new container shipping electronic service platform "Port Exchange," achieving real-time cargo account management and fund collection and payment, providing the shipping industry with a safe, efficient, and convenient electronic payment experience, aiding in the digital transformation and upgrade of the shipping industry. BOC HONG KONG stated that by utilizing the latest iGTB API1 and other technologies, it supports the integration of COSCO SHP SG's cargo management system with the bank's platform, allowing COSCO SHP SG to achieve rapid, bulk, automated collection and reconciliation through online channels, significantly enhancing operational efficiency and reducing personnel costs.
Middle East Sea Freight Recycling Label Qatar Energy Project
The awarding ceremony of the Qatar Energy Project's six QC-Max 0.271 million ultra-large LNG carriers was held at Qatar Energy Company's Doha headquarters, Sino-Far Sea Shipping said on its official Weibo. Zhongguang Marine Energy is a joint venture between Shanghai Zhongguang LNG and merchant shipping company Mitsui. The two sides jointly signed seven 0.174 million LNG carriers for the project for the first time in 2022.
COSCO ship port (01199.HK) has completed the issuance of 89.1215 million dividend shares.
Gelonghui, November 21 - cosco ship port (01199.HK) announced that on November 21, 2024, it will issue 89.1215 million shares in lieu of dividend based on the first interim dividend plan for the year ending December 31, 2024.
JD.com and cosco shp sg cooperate to expand supply chain, logistics, cross-border e-commerce and other business areas.
JD.com Group-SW (09618.HK)(JD.US) has signed a strategic cooperation agreement with cosco shp sg, marking the commencement of extensive and in-depth collaboration in various fields such as supply chain, logistics, cross-border e-commerce, smart warehousing, and industry, helping to shape a more resilient global supply chain. According to the content of the agreement, both parties will leverage their respective cni resource index to jointly explore the application of advanced technologies such as big data, cloud computing, and ai in the supply chain, promoting the intelligent upgrade of the supply chain. At the same time, both parties will work together to create a global integrated service platform for the supply chain, spanning from online to offline, to assist customers in achieving cost reduction and efficiency enhancement.
Cosco Shipping Holdings (601919.SH): The Peru Chancay Port is invested in and operated by cosco ship port under Cosco Shipping Holdings.
On November 19, Gelonghui reported that cosco shipping holdings (601919.SH) stated on the interaction platform that the Peruvian Chinkai Terminal is invested and operated by cosco shipping port, a subsidiary of cosco shipping holdings. On January 23, 2019, cosco shipping port officially signed the subscription and investment agreement for the Peruvian Chinkai project, holding a 60% stake in Chinkai Terminal. The project is positioned as a green asia vets new port, committed to creating the largest berthing capacity and the highest level of modernization in the americas. The Chinkai Terminal project began trial operation on November 14, 2024.
COSCO SHP SG has signed a memorandum of cooperation for green methanol production with companies from the USA and Thailand.
COSCO SHIP SG announced that the group has signed a memorandum of cooperation for green methanol production with Thailand's Charoen Pokphand Group and the USA's RWE Group. According to the agreement, the three parties will continue to strengthen cooperation in shipping green energy and other areas, utilizing the abundant biomass resources in Southeast Asia, adopting industry-leading technology, and establishing a green methanol production base that meets EU standards, effectively ensuring COSCO SHIP SG's renewable energy substitution process and promoting the optimization and upgrading of the energy structure.
cosco ship intl (00517.HK) subsidiary New Peak Company is facing a claim of 9.37 million USD.
Cosco Ship Intl (00517.HK) announced that a third-party commercial banks filed a claim of 9.3739 million US dollars against its indirect wholly-owned subsidiary, Singfoong, in the High Court of Singapore, seeking damages, interest, and costs. The plaintiff accuses Singfoong of deception and/or fraudulent misrepresentation and/or negligent misrepresentation/misstatement in the trade financing provided by the plaintiff to Coastal Oil Singapore, as well as conspiracy under the Misrepresentation Act (1967) of Singapore. Singfoong is seeking legal advice on the lawsuit and believes that the plaintiff's claim is unfounded.
COSCO Shipping Ports Books Lower Attributable Profit for Q3
Cosco Ship Port (01199.HK) net profit for the first three quarters was 0.22 billion US dollars, a 5.4% year-on-year decrease.
Cosco ship port (01199.HK) announced its performance for the first three quarters ending in September this year, with revenue of approximately 1.109 billion US dollars, up 5.8% year-on-year; net profit of 0.221 billion US dollars, down 5.4% year-on-year; earnings per share of 6.13 US cents. For the third quarter alone, revenue was 0.399 billion US dollars, up 11.2% year-on-year; net profit was 81.859 million US dollars, down 1.7% year-on-year; earnings per share of 2.23 US cents.
Cosco ship port (01199.HK) signed a comprehensive agreement with Cosco Shipping on shipping and terminal services.
Cosco Ship Port (01199.HK) announced that on October 30, 2024, the company signed a comprehensive agreement with Cosco Shipping for shipping and terminal services.
COSCO Shipping Ports (01199) announced its third-quarter performance, with a 1.7% year-on-year decrease in profit attributable to equity holders to $81.859 million.
Cosco Shipping Port (01199) announced its performance for the third quarter of 2024, with a total throughput increasing by 5.1% year-on-year to approximately...
Cosco Shipping Ports 3Q Rev $399.0M Vs. $358.9M >1199.HK
Express News | cosco ship port: revenue of 1.11 billion US dollars in 9 months.
COSCO SHIP PORT: FINANCIAL AND OPERATIONAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2024
Citi: maintains a "buy" rating on COSCO Shipping Ports (01199) with a target price reduced to 5.9 Hong Kong dollars.
Citigroup is lowering the average revenue, EBITDA, and core profit of cosco ship port for 2024 to 2026 by approximately 1.5%, 2%, and 8% respectively.
Citi lowered the target price of COSCO Shipping Port (01199.HK) to 5.9 yuan, rated as 'buy'.
Citigroup stated in a research report that considering the latest financial situation of cosco ship port (01199.HK) and industry trends, the group's revenue, EBITDA, and core profit for the years 2024 to 2026 are expected to be lowered by an average of approximately 1.5%, 2%, and 8% respectively to reflect lower expected average price growth and higher costs. The bank maintains a "buy" rating on the group, with the target price adjusted from 6.1 yuan to 5.9 yuan.
COSCO Shipping Ports Acquiring Minority Stakes in Thai Firms
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