May 04, 2016 1:08 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: 47
Chief Financial Officer and Chief Accountant
Age: 57
Executive Vice President
Age: 55
Executive Vice President
Age: 52
Executive Vice President
Age: 54
Compensation as of Fiscal Year 2015.

China Ocean Shipping (Group) Company Key Developments

Vale Signs Iron Ore Freight Deal with China Ocean Shipping Company

Vale and China Ocean Shipping Company (Cosco) signed an affreightment contract for strategic cooperation in iron ore shipping. Under the deal, Cosco will transport about 16Mt/y of iron ore for Vale from first half of 2018. The contract will continue until the end of the 27th year from the start date.

COSCO Reportedly Eyes TRAINOSE

China Ocean Shipping (Group) Company (COSCO) is expected to make an offer for TRAINOSE. The acquisition will give COSCO connections to the Suez Canal and rail links to the Balkans and central and Eastern Europe. COSCO's focus on Greece is about building market share at a time of anguish in a bruised and oversupplied shipping sector, industry sources said. "COSCO and Watco Companies, LLC are interested in TRAINOSE," said the source, who declined to be identified. "There is also a Greek group which is interested and is looking for a partner." Officials in Greece have said it is too early to comment on specifics, but a sale is almost inevitable. Reuters added that COSCO spokeswoman declined to comment on prospective bids for other Greek assets. She said the firm believed buying Piraeus would improve the port's competitiveness and efficiency, but declined to elaborate on detailed plans. Watco could not be reached for comment and the source did not identify the Greek group.

COSCO Sole Bidder For Piraeus Port Authority

China COSCO Holdings Company Limited (SEHK:1919) is the sole bidder for 51% stake in Piraeus Port Authority SA (ATSE:PPA), the privatization agency said. The privatization agency said it will ask the bidder to raise its offer. China Ocean Shipping (Group) Company is on track to acquire 51% of Piraeus Port Authority's outstanding shares for €300 million to €400 million.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 2, 2016
Wuhan Iron and Steel Co., Ltd.
Merger/Acquisition
December 11, 2015
China Bohai Bank Co., Ltd.
Merger/Acquisition
December 11, 2015
China COSCO Bulk Shipping (Group) Co., Ltd.
 

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