Latest news from Heavy Lift & Project Forwarding International Magazine

Coscol confirms shipping pool expansion ambitions

December 28 - Cosco Shipping (Coscol) has confirmed that it is seeking to expand the pool of specialist semi-submersible vessels created earlier this year by adding ships from mainland Chinese or non-Chinese shipping companies.

HLPFI understands that there are six semi-subs in the pool at present - two Coscol ships, and one each belonging to Tianjin Cosco Shipping, Guangzhou Salvage and Zhejiang Share-ever Business - and that it controls about 20 percent of the semi-sub tonnage currently available on world markets.

Coscol has confirmed that all six ships, range from 20,247 dwt to 50,000 dwt, are operated by Coscol (HK) Investment and Development, and are able to transport project cargoes including oil rigs, heavy engineering components, barges floated on and off deck.

Coscol declined to provide a timetable for the expansion programme but come at a busy time for the line which has recently launched joint ventures with its long-standing partner NMA Maritime & Offshore Contractors; and acquired 100 percent of the shares in Guangzhou Ocean Shipping from China Ocean Shipping (Group) Company earlier this month.

Industry commentators say that a vessel pool of this nature usually leads to higher earnings, as operating efficiencies are found by matching cargoes to ship more effectively and Coscol confirmed that whilst the pool was originally created to mitigate price cutting competition in the heavy lift and semi-submersible vessel sector and reduce the cost of mobilising and demobilising the vessels, pool members have already seen a rise in charter rates for their ships since it was set up.

www.coscol.com.cn

Heavy Lift | News

USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
Views: 452
Maxim names duo for Pacific Northwest thumbnail image

Maxim names duo for Pacific Northwest

May 24 - Maxim Crane Works has appointed Travis Wilt and Alex Clark to lead the expansion of its services in the Pacific Northwest region of North America. 
Views: 455
PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
Views: 408

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.