Blackstone, KKR Said to Pursue $1 Billion Container Terminal in Long Beach

By Gillian Tan and Vinicy Chan (Bloomberg) -- Cosco Shipping Holdings Co.’s sale of a container terminal in Long Beach, California has drawn interest from potential buyers including Blackstone Group LP and KKR & Co., people familiar with the matter said. EQT Partners and an arm of Macquarie Group Ltd. have also been studying a deal for the asset, the people said, asking … [Read more...]

China’s COSCO Shipping Considers London Listing – Sources

By Jonathan Saul LONDON, Dec 7 (Reuters) - China's largest shipping group, COSCO Shipping, is considering raising capital for the first time on the London Stock Exchange through a new initiative with Shanghai's bourse, two finance sources familiar with the matter said. The Shanghai-London Stock Connect will enable Chinese companies to raise fresh money on the LSE … [Read more...]

Profit Falls 98 Percent For Cosco

by Brenda Goh (Reuters) - China’s COSCO Shipping Holdings Co Ltd on Thursday said first-half profits fell 97.8 percent as it grappled with higher costs and a slide in freight rates. China’s largest shipping group, which has bought a Hong Kong peer to become the world’s third-largest container liner, said January-June net profit was 40.8 million yuan ($6 million), down from … [Read more...]

COSCO Upbeat on OOCL Despite $73 Million Loss in First Half

By Mike Wackett (The Loadstar) - Orient Overseas International (OOIL) suffered a loss of $73m in its OOCL container business in the first six months of the year, following a profit of $24.5m in the same period of 2017. H1 turnover was $3.1bn, versus $2.8bn the year before, earned from liftings which had increased by 6% to 3.3m teu. But increased costs hit the bottom … [Read more...]