Cosco sets new course
Article Abstract:
China Ocean Shipping Co has undergone restructuring to enhance its efficiency. It also has brought in several experts from Western countries to make it face tougher market competition. The government-owned company has become the largest domestic shipowner with over 600 vessels in its fleet. Currently, the company transports approximately 10% of Chinese cargoes. Cosco has set a newbuilding capacity to be implemented within 1998 so it can be an all-encompassing shipowner like Hyundai, Hanjin, AP Moller and Mitsui.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1998
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Owners fly Finnish flag
Article Abstract:
Owners of shipping lines in Finland generally use all-Finnish crews despite the abundance of cheap foreign labor because they rightly fear that such abundance will soon give way to scarcity. They would prefer to train native seamen who are, at any rate, exposed to Finland's peculiar terrain such as ice and snow that make some sea routes difficult to traverse. There is, of course, the innate patriotism among these owners that make them stick to the recruitment of their countrymen for seafaring activities.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1996
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Cosco counts newbuilding costs
Article Abstract:
China Ocean Shipping Co (Cosco) is preparing to eliminate approximately 200 aging vessels in its fleet of about 600 ships as it calculates the higher cost of maintaining older vessels against investments in newbuildings. The company also opted to dispose of the ships, instead of selling them to another company since that could only create another competitor to the state-owned shipowner. Over the next years, Cosco will phase in a new fleet of fewer and larger ships.
Publication Name: Motor Ship
Subject: Transportation industry
ISSN: 0027-2000
Year: 1997
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