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 (Group) Co., according to statement posted on the website of China’s state-owned Assets Supervision and Administration Commission, ending years of speculation among analysts that the government would ultimately combine the two groups to boost efficiency.
China Cosco Holdings Co. said in an exchange filling that it plans to consolidate the container-shipping operations with its state-backed rival China Shipping Container Lines Co. through acquiring a total of 33 container-shipping related units and affiliates from CSCL for 1.14 billion yuan ($177 million) and leasing its container ships...
Meanwhile, the Hong Kong and Shanghai-listed flagship of Cosco Group plans to sell all its dry-bulk shipping businesses to its state parent for 6.77 billion yuan. The asset restructuring also covers the two groups’ ports and oil-tanker-shipping operations. Cosco Pacific Ltd., the Hong Kong-listed port-operating arm of Cosco Group will pay 7.63 billion yuan to buy the port-operating business of China Shipping (Group) Co. Cosco Pacific also plans to sell its container leasing business—Florens Container Holdings Ltd.—to a unit of China Shipping Container Lines Co. for 7.78 billion yuan.
China Shipping Development Co., the oil-and-bulk-shipping unit of China Shipping Group, also plans to buy the oil shipping business from China Cosco Group, it said....
KENYA'S AMBITIOUS USD 290 MILLION SECOND CONTAINER TERMINAL BEGINS
Kenya Ports Authority has begun operations at the new Sh29 billion second container terminal, setting pace for the port's new cargo handling capacity.
Container vessel MV Busan Trader, with a length overall of 210 metres docked at berth 21 on Monday, becoming the first vessel at the terminal. KPA public relations manager Bernard Osero said the ship was expected to complete discharging 934 containers yesterday, and load a similar number on her return voyage..
Kenya's Transport and Infrastructure Permanent secretary Irungu Nyakera said the facility “should be put into maximum use to enhance efficiency in cargo handling”. The first phase of the terminal, which has an annual capacity of 550,000 TEUs, was handed over to KPA in February, boosting the port’s container handling capacity by 50 per cent. It has increased total terminal capacity at the Port of Mombasa to 1.55 million TEU’s from 1.1 million. The first phase comprises berths number 20 and 21 measuring 250 metres and 300 metres, with an additional small berth. Maersk Line, MSC, African Shipping Line, CMA-CGM, Emirates Shipping Lines all operate from Mombasa Port.
CHINA SHIPPING CONTAINER LINES (COSCO) NEW MARITIME SILK ROUTES
Recently and according to the director of China’s State Oceanic Administration, China has big plans for the 21st Century Maritime Silk Road (MSR) in 2016. Xinhua cited SOA chief Wang Hong as saying that China will advance the MSR with an action plan this year. Wang also spoke of establishing “a China-ASEAN maritime cooperation center and a platform to boost maritime cooperation in East Asia,” according to Xinhua.
Logistics investors in Asia have been weighing the relative effects of a slowdown in Chinese export trade, the changing composition of Chinese demand, and the potential trade boost from the new Trans-Pacific Partnership (TPP).
COSCO SHIPPING CORP & VELA (BRAZIL) IN A 27 YEAR DEAL
The newly-created shipping major China COSCO Shipping Corporation (COSCOCS) has penned a 27-year agreement with Brazilian miner Vale that will see the Chinese shipping giant transport 16 million tons of iron ore for Vale on annual basis, the Chinese company said. The deal has been signed earlier today in Beijing and marks the first major deal COSCOCS has signed since its formal launching. The agreement was signed by Ye Weilong, E.V.P of China COSCO Shipping, and Luiz Meriz, Executive Manager for Shipping and Iron Ore Marketing of Vale.
“The signing of the agreement marks the commencement of a new chapter of the cooperation between the two companies,” a statement from China COSCO Shipping reads.
COSCOCS was officially launched in Shanghai on 18 February, following a merger between China Shipping and Cosco, thus becoming the world’s largest dry bulk and tanker owner and fourth on global scale with respect to its container fleet.
NYK, MITSUI OSK, WILHEMSEN & EUKOR CAR CARRIERS FINED BY CHINA
China fined eight shipping lines 407 million yuan ($63 million) in total after finding them responsible for price collusion in the transportation of vehicles and heavy machinery
Japan’s Nippon Yusen KK, Mitsui OSK lines, Kawasaki Kisen Kaisha and Eastern Car Liner Ltd., Korea’s Eukor Car Carriers Inc., Norway’s Wallenius Wilhelmsen Logistics AS, Chile’s Cia. Sud Americana de Vapores SA and its shipping line were the eight indicted after a year-long investigation, the National Development and Reform Commission said in a statement on its website Monday. The companies acknowledge wrongdoing, the top Chinese economic planning agency said.
The probe follows similar investigations by the European Union in 2013 and Japan’s Fair Trade Commission. Japanese regulators raided the offices of five shipping lines in 2013 over allegations they discussed raising rates together for transporting cars, and imposed fines on Nippon Yusen and Kawasaki Kisen in January 2014. AP Moeller-Maersk A/S, CMA CGM SA and MSC Mediterranean Shipping Co. were among companies in the European Union probe.
McCREADY LOGISTICS APPOINTED FOR DDP/CUSTOMS AGENCY IN MOMBASA/MOGADISHU
AFRICA SHIPPING LINE - KENYA & SOMALIA has appointed McCready's Logistics & Cargo as Their Nominated Customs Clearing Agents for Containers (Both Local and Transit as well as RoRo (Vehicles) and Project Cargo.
CHINA PORTS(Ningbo, Guangzhou/Nansha, Shanghai) TO AFRICA
TURKEY PORTS(Izmir/Mersin) TO AFRICA
UAE- DUBAI/SHARJAH PORTS(Jebel Ali, Port Rashid, Port Khalid) TO AFRICA
OMAN PORT (Salalah) TO AFRICA
INDIAN PORTS (Nhave Sheva, Mundra, Chennai, Colombo) TO AFRICA
SOUTH EAST ASIAN PORTS (Port Kelang, LamChambang, Jakarta) TO AFRICA
AFRICA SHIPPING LINE - CHINA is now Your preferred Container, Break Bulk, Project, OOG, Heavy lifts & RORO Logistics Solutions Provider.
We are loading secure Cargo in the form of break bulk , Project Cargo from China ports of Ningbo, Shanghai, Guangzhou, Quindao to African Countries (Mombasa, Dar Es Salaam, Djibouti, Mogadishu, Beira and Durban)
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