Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

COSCO offers $6.3 billion for smaller rival Orient Overseas

From US News:

China’s biggest shipping company, state-owned COSCO Shipping Holdings Co., is creating the world’s No. 3 container shipping giant by acquiring rival Orient Overseas (International) Ltd.

Shares in both companies surged Monday following the announcement of the $6.3 billion deal.

A wave of consolidation has created huge competitors in a global shipping industry […]

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FMC Chairman addresses US-China regulatory issues

Consolidation of shipping lines, realignment of carriers alliances, environmental improvements in the shipping industry and achieving supply chain efficiencies were all among topics addressed during the U.S.-China Bilateral Maritime Consultations held in Los Angeles last week.

Federal Maritime Commission (FMC) Chairman Mario Cordero co-headed the U.S. delegation to the meeting with Deputy Maritime Administrator Michael […]

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COSCO’s vessel departs Greece for Inaugural Transit through Extended Panama

During the inauguration, COSCO Shipping Panama will transit Agua Clara Locks on the Atlantic side during the early morning and Cocoli Locks in the afternoon. The regular schedule of transits through the Expanded Canal will follow the next day, June 27.

From Maritime Professional:

The container vessel COSCO Shipping Panama set sail from the […]

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Big shake up for container alliances as CMA CGM announces new deal with COSCO, Evergreen, and OOCL

From Ship and Bunker:

CMA CGM S.A. (CMA CGM) Wednesday announced that it has signed a Memorandum of Understanding (MoU) with COSCO Container Lines (COSCO), Evergreen Line (Evergreen) and Orient Overseas Container Line (OOCL) to form a new shipping alliance, known as “Ocean Alliance.”

Ocean Alliance would control 23.5 percent of the world’s container capacity, […]

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China Shipping and Cosco merge to become China Cosco

From a Reuters report titled ”China launches new shipping giant to battle downturn”:

China on Thursday launched a challenge to global shippers AP Moller Maersk and Mitsui OSK Lines, but analysts said the giant company must slim down its workforce and order book to weather one of the industry’s worst-ever slumps.

Created from the state-driven […]

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Cosco merger may change industry dynamics

From Marine Link:

The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ.

The merger will free the two Chinese shipping groups from competing against each other at home and […]

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Cosco advances Arctic route plans

From Port Technology:

In a bid to explore navigation in the Northwest Passage and develop ships that are suitable for Trans-Arctic shipping, Cosco and classification service provider American Bureau of Shipping (ABS) have signed a cooperation agreement, which also aims to expand Cosco’s use of the Northeast Passage, according to World Maritime News.

It was […]

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Cosco gets new chairman as China Shipping merger drags on

Ma Zehua, the man who replaced Wei Jiafu as chairman and party secretary for China Cosco Holdings in 2013 when the charismatic executive quit unexpectedly, stepped down Thursday as chairman of the mainland’s largest carrier.

He will be succeeded by non-executive director Wan Min, China Cosco said in a filing to the Hong Kong […]

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China Approves Merger of Cosco, China Shipping

China’s two state shipping giants will combine their container-shipping assets among other restructuring efforts, as part of a multibillion-dollar merger to strengthen the nation’s competitiveness in an industry battered by weak demand and persistent overcapacity.

China’s State Cabinet on Friday approved the merger between China Ocean Shipping (Group) Co., or Cosco Group, and China Shipping […]

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Container shipping on the cusp of a major shakeup

Plagued by overcapacity and ongoing losses, the container shipping industry is rife with talk of potential mergers and acquisitions. The consolidation of the highly fragmented industry is long overdue, especially when contrasted with such other heavily capitalized transportation sectors as railroads and airlines.

The possibility that a new wave of M&A may be imminent was […]

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Arctic shipping prospects get boost from Chinese shipper, Korea-Iceland partnership

The extent of Arctic sea ice this October was the sixth-lowest on record, according to a National Snow and Ice Data Center release last week — in a year in which the overall seasonal low reached its fourth-lowest extent on record in September.

Figures such as those have fueled renewed interest in Arctic shipping, which […]

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CSCL, Cosco in early stages of merger, FMC commissioner says

A U.S. Federal Maritime Commissioner said he was told earlier this week by representatives of China Shipping Container Lines and Cosco that the container lines are in the early stages of a merger.

FMC Commissioner William Doyle told JOC.com that China’s two largest container lines are working to be as transparent as possible regarding the […]

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Cosco to order 11 container megaships, adding to ship overcapacity

Excerpts from the Wall Street Journal:

The Wall Street Journal reported the impending Cosco order in April. At the time, some senior company executives had reservations about following bigger competitors—including Maersk Line, a unit of Denmark’s A.P. Møller-Maersk A/S, Switzerland-based Mediterranean Shipping Co. and France’s CMA CGM SA—that already operate dozens of such behemoths.

Container […]

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Possible merger talks see Cosco and CSCL extend trading halt

Cosco and China Shipping said recently that they were discussing a “material event,” widely believed to be a merger, and would extend the trading halt on Hong Kong and Shanghai exchanges that has been in force since August 10.

“At present, the event is in the planning process, there are still uncertainties,” China Cosco Holdings […]

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Chinese company mulls more Arctic shipping

It’s been previously reported that Russian President Vladimir Putin has promised his Chinese counterpart Xi Jinping favorable conditions for use of the Northern Sea Route.

As one of its cargo ships arrives in Sweden after the transcontinental voyage, shipping company Cosco says it might boost shipments along the Arctic route.

Questions are raised about profitability […]

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