Find out how much time it takes for Cosco to complete a drillship

29 Aug 2013 - Singapore Business Review
Clue: Almost a decade. According to CIMB, Cosco Corp had delivered its first semi-sub (Island Innovator) to Odfjell at end-2012, after struggling for six years with customers’ financing difficulties, its own technical learning curve and rounds of cost overruns. It was the same for its drillship, Dalian ...
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Cosco wins jackup drilling rig contract worth over $170m

2 Aug 2013 - Singapore Business Review
For delivery to a European company. The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD170 million from a European company ...
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Cosco's net profit crashed 61% to $21.8m

2 Aug 2013 - Singapore Business Review
Operating weakness became more severe. According to OCBC Investment Research, COSCO Corp (Singapore)’s revenue for 2Q13 declined by 9% YoY to S$890m, while net profit fell by 56% to S$12.0m. For 1H13, the group’s net profit fell by 61% to S$21.8m, forming 45% and 29% of OCBC's and the street’s FY13 estimates ...
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Cosco Corp seals $200m contract for semi submersible accommodation vessel

18 Jul 2013 - Singapore Business Review
Vessel ordered by COTEMAR. The Board of Directors of COSCO Corporation (Singapore) Limited has announced that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD200 million from COTEMAR S.A. De C.V., ...
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Why Cosco should be alarmed by Rongsheng's financial downfall

17 Jul 2013 - Singapore Business Review
USD17.3m profits forecast may drop further. According to Maybank Kim Eng, Cosco could face more margin pressures in the coming quarters after disappointing majorly in 1Q13 with a 65% YoY decline in PATMI. The company reports on 1 August 2013. Maybank sees downside risks to its PATMI estimate of USD17.3m ...
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Ongoing Chinese credit squeeze could hurt Cosco Corporation

5 Jul 2013 - Singapore Business Review
Because of large outstanding debt burden. According to OCBC Investment Research, Cosco Corporation may become vulnerable should credit conditions in China, which have seen a sudden and unexpected squeeze, continue to deteriorate. Here's more from OCBC: Not time to upgrade yet. COSCO Corp (Singapore)’s ...
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Chinese Ship Builders in Trouble

5 Jul 2013 - The Motley Fool Singapore
This morning, Bloomberg reported that one of China’s biggest shipyard-companies outside the state’s control, China Rongsheng Heavy Industriies Group Holdings, is “seeking support from the government and its largest shareholder amid a plunge in orders and prices.” According to the Bloomberg report, it ...
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Why Cosco can't be happy yet with US$700m sealed deals in 2013

24 Jun 2013 - Singapore Business Review
Profitability is still hazy. According to CIMB, Cosco has won US$700m worth of deals YTD. However, CIMB noted that contracts may no longer excite the market as profitability is uncertain. Here's more: Cosco has secured contracts from a Singapore entity for the conversion of two semi-completed hulls ...
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COSCO Singapore subsidiary secures $170m conversion contracts

22 Jun 2013 - Singapore Business Review
Delivery set after 2 years. In a release, The Board of directors of COSCO Corporation (Singapore) Limited (announced that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured contracts from a Singapore entity for the conversion ...
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Cosco shipyard wins Malaysian barge building contract

11 May 2013 - Singapore Business Review
Delivery set for 4Q this year. In a release, the Board of Directors of COSCO Corporation (Singapore) Limited wishes to announce that COSCO (Zhoushan) Shipyard Co., Ltd. (a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd.), has signed and made effective a contract with a ...
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