Peru to 'correct error' that gave Cosco exclusivity in megaport
|
| |
Singapore Straits Times ^
LIMA - Peru's port authority said it hopes to fix an "administrative error" that gave China's Cosco Shipping exclusivity over operations at the new Chancay megaport. The
National Port Authority (APN) said in a statement late on Friday that it has requested the annulment of its own decision in February 2021 that granted Cosco exclusivity, through a judicial process. The authority said the legal process would not affect the port's construction in northern Peru and it still plans to begin operations at the end of the year. "The construction process and the future operation of the Chancay Port Terminal will...
|
|
|
COSCO Tankers Go Dark
|
| |
Maritime Executive ^
About a third of the tankers owned by COSCO Shipping Tanker (Dalian) have shut off their AIS systems after the U.S. imposed sanctions on the company for allegedly shipping Iranian crude, reports Reuters. Ship tracking data from Refinitiv Eikon indicates that in the week ending October 7, 14 tankers, including nine VLCCs,
have gone dark. The U.S. imposed sanctions on the company on September 25. At the time, the U.S. Department of State said the company, along with five others, knowingly engaging in a significant transaction for the transport of oil from Iran in defiance of sanctions set in place...
|
|
|
China's COSCO Dis-Assembles 8 Ships Amid Glut As Baltic Dry Hits Another Record Low
|
| |
Zero Hedge ^
| 2-16-2015 | Tyler Durden
Tyler Durden 02/16/2015 You know things are bad in the ship-building business when... amid considerably larger than expected losses, China's COSCO announced that it has dis-assembled 8 vessels in January alone (including 3 bulk carriers) and will be decommissioning and disposing of them as it awaits a "more conducive" environment. It
appears that is not coming anytime soon, as The Baltic Dry Index just hit 522 - a new all-time low (down a stunning 53 of the last 55 days). As COSCO explains in its HKSE Statement:(snip)
|
|
Click to search older articles ...
|
|
|