COSCO Shipping International (Singapore) Co.(formerly: COSCO Corporation (Singapore))

[CityFarmer]

The suspension will continue for a while...

Cosco and China Shipping say project "may involve asset restructuring"

SHANGHAI (Sept 16): China Ocean Shipping (Group) Company (Cosco) and China Shipping Group, two of the country's largest shipping firms, said shares in their listed companies would remain suspended pending a complex matter under research that "may involve asset restructuring".

The listed units of the two state-owned companies, including Cosco's flagship China Cosco and China Shipping's China Shipping Development, halted trading in their shares from Aug 10, adding at the time that they were "planning major issues".
...
http://www.theedgemarkets.com/sg/article...tructuring

[butcher]

Hopefully things will turn better

[snapsnap]

Nov 17, 2015 - Cosco kept at ‘reduce’ by HSBC, target price cut to 29 cents
http://www.theedgemarkets.com/sg/article...t-29-cents

[kbl]

Good afternoon everyone.

http://www.reuters.com/article/china-shi...VK20151211

<not vested>

[desmondxyz]

I reckon Cosco will plunge GAO GAO after resume trading ....

[CityFarmer]

What are interesting, are the "options" in the contract, which is very favorable to the Cosco customer...

(not vested)

COSCO and Sevan Drilling Rig VI extends delivery date of Sevan Developer for 2nd time

SINGAPORE (April 15): COSCO Corporation (Singapore) said rigowner Sevan Drilling Rig VI and subsidiary COSCO Qidong have agreed to exercise the second option to extend the delivery date of Sevan Developer for a further six months of up to Oct 15.

The first option to extend the delivery date was agreed between rigowner and COSCO Qidong on Nov 2 2015 for six months up to April 15.

COSCO Qidong is required to refund to the rigowner the sum of US$26.3 million (being 5% of the contract price) plus interest, by May 25. The final payment for the contract has also been amended from 85% of the contract price to 90% of the contract price of US$526 million ($715 million) amounting to US$473.4 million and can be amended further upon the expiration of the option period.

“In view of the deferment and the uncertainty as to whether the remaining options will be exercised, it is not possible to ascertain the financial impact of the agreement for deferment  at this point in time,” says COSCO in its SGX filing.

COSCO last traded at 35 cents.
http://www.theedgemarkets.com/sg/article...r-2nd-time

[brattzz]

this trick again?

"COSCO Qidong is required to refund to the rigowner the sum of US$26.3 million (being 5% of the contract price) plus interest, by May 25. The final payment for the contract has also been amended from 85% of the contract price to 90% of the contract price of US$526 million ($715 million) amounting to US$473.4 million and can be amended further upon the expiration of the option period."

end of COSCO liao..

[corydorus]

Salesperson working in this company must be very shiok. FAT FAT commission.

[CityFarmer]

Oil tanker is in high demand, but not for oil rig...

Cosco delivers 111,000 dwt oil tanker; but extends delivery date for another

SINGAPORE (May 16): Cosco Corporation says Cosco Zhoushan Shipyard Co, a unit of its 51% owned subsidiary Cosco Shipyard Group Company, has delivered a 111,000dwt oil tanker to its European buyer.

The oil tanker known as Front Leopard measures 252m in length, 44m in breadth and 21 m in depth.

Meanwhile, Cosco announced that the delivery of another jack-up drilling rig by its Nantong unit will be delayed.
...
http://www.theedgemarkets.com/sg/article...te-another

[CY09]

I hate this kind of news. It means more supply of tankers which may depress prices.

<vested in FSL trust>