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Cosco Shipping Development Co Ltd

COSCO SHIPPING Development Co., Ltd., together with its subsidiaries, research, develops, manufactures, and sells containers in the United States, Asia, Hong Kong, Mainland China, Europe, and internationally. It operates through Container Manufacturing Business; Shipping Leasing Business; Container Leasing Business; and Investment Management Business segments. The company offers dry cargo, refrigerated, and special containers, as well as container houses and after-sales services; integrated shipping, logistics, and industry finance services; and vessel chartering and financial leasing services, including container ships, dry bulk carriers, special-purpose vessels, and tankers. COSCO SHIPPING Development Co., Ltd. was formerly known as China Shipping Container Lines Company Limited and changed its name to COSCO SHIPPING Development Co., Ltd. in November 2016. COSCO SHIPPING Development Co., Ltd. was founded in 1997 and is headquartered in Shanghai, China.

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COSCO SHIPPING Development Subsidiary to Build 15 New 210,000-DWT Bulk Carriers for a Total of 7.92 Billion Yuan

COSCO SHIPPING Development announced plans to build 15 new 210,000-deadweight-ton bulk carriers through its wholly-owned subsidiary Hainan COSCO SHIPPING Development Shipping Co., Ltd., with a total investment of 7.92 billion yuan. Of these, 10 vessels will be constructed by Waigaoqiao Shipbuilding with a transaction value of 5.28 billion yuan, and 5 vessels will be built by Xiangyu Shipbuilding with a transaction value of 2.64 billion yuan. The ships are expected to be delivered gradually starting from May 2030 and will be chartered on a long-term operating lease to COSCO SHIPPING Bulk.
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COSCO SHIPPING Development Plans to Apply for Registration and Issuance of Corporate Bonds Not Exceeding 6 Billion Yuan

COSCO SHIPPING Development plans to apply to the Shanghai Stock Exchange and the China Securities Regulatory Commission for the registration and issuance of corporate bonds, with a total size not exceeding 6 billion yuan. The bonds will have a term of no more than 10 years and may be a single or a mix of multiple maturity types. After deducting issuance costs, the raised funds are intended for repaying interest-bearing debts, supplementing working capital, and project construction and operation. In the first quarter of 2026, the company achieved revenue of 5.986 billion yuan and net profit attributable to the parent company of 413 million yuan.
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American Mariners Protest Chinese Vessel Operating Under Jones Act Waiver in Louisiana

Members of the Seafarers International Union protested outside Marathon Petroleum's refinery in Garyville, Louisiana, against the Chinese-flagged vessel Jin Zhou Wan, which has completed at least three domestic coastwise voyages under a temporary Jones Act waiver. The Jones Act requires cargo transported between U.S. ports to move on U.S.-built, U.S.-owned, U.S.-flagged, and primarily U.S.-crewed vessels. The Jin Zhou Wan is owned and operated by a subsidiary of COSCO Shipping, designated by the U.S. Department of War as a Chinese Military Company. The waiver was issued during the conflict with Iran to stabilize domestic fuel supplies and lower gasoline prices, but analysis by Navigistics Consulting and Reuters found it did not significantly increase fuel supplies or measurably reduce gasoline prices. The initial 60-day waiver was later extended for another 90 days, and Louisiana's congressional leadership, including Speaker Mike Johnson and Majority Leader Steve Scalise, recently joined dozens of House Republicans in urging President Donald Trump to allow the waiver to expire.
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