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August 02, 2015 4:44 AM ET

Marine

Company Overview of China Ocean Shipping (Group) Company

Company Overview

China Ocean Shipping (Group) Company engages in marine shipping, logistics, and ship building and repairing businesses. Its shipping business operations include container shipping services; bulk shipping services for products ranging from iron ore, coal, grain, fertilizer, steel, and timber to agricultural products, etc.; tanker shipping services for crude oil, product oil, LPG and LNG, etc.; liner and tramp services, including heavy lifts, semi-submersibles, RO-ROs, multi-purpose carriers, timbers, asphalts, and car carriers; and passenger and cargo shipping services. The company’s shipping related business activities comprise providing logistics services; developing and operating container...

Ocean Plaza

158 Fuxingmennei Street

Beijing,  100031

China

Founded in 1961

Phone:

86 10 6649 3388

Fax:

86 10 6649 2288

Key Executives for China Ocean Shipping (Group) Company

President and Director
Age: 56
Chief Financial Officer and Chief Accountant
Age: 57
Executive Vice President and General Counsel
Age: 55
Executive Vice President
Age: 52
CCO
Age: 62
Compensation as of Fiscal Year 2015.

China Ocean Shipping (Group) Company Key Developments

China Ocean Shipping (Group) Company Announces Earnings Results for the Year Ended December 31, 2014

China Ocean Shipping (Group) Company announced earnings results for the year ended December 31, 2014. For the period, the company reported net profit attributable to the equity holders of the company of RMB 363 million, rising 54% year on year.

Maersk Line Orders Seven Ice-Class Container Vessels from COSCO

Maersk Line said it has ordered seven ice-class container vessels from COSCO as a first step in a $15 billion investment program. The value of the order was not disclosed. Deliveries were expected in the second half of 2017. The company said it needs new vessels to "grow with the market," and expects to announce more orders in 2015. The new ships will serve its fully-owned Seago Line in the Baltic and North Sea regions, including in icy conditions.

COSCO group Secures $1.75 Billion Credit Line for New Building Scheme

COSCO group has secured $1.75 billion financial agreement with Export-Import Bank of China (China Exim Bank) for its newbuilding programme. The development is coming after a United Kingdom based Moore Stephens maritime experts made public the outcome of its survey on confidence levels in the shipping industry. The loan will be used to fund COSCO to order 53 newbuildings at Chinese yards, including 90,000dwt semi-submersible vessels, 9,400teu container ships, as well as eco bulk carrier, which are planned to replace over 100 ships scrapped by COSCO within the past two years, according to the agreement.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 7, 2015
COSCO Shipping Company Limited
Private Placement
December 31, 2014
China National Nuclear Power Co., Ltd.
Merger/Acquisition
October 30, 2014
COSCO Shipyard Group Co., Ltd.
 

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