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COSCO reported USD 1.4 Bln Loss

Chinese Shanghai-based shipping line COSCO has announced CNY 9.9 billion (USD 1.4 billion) as an annual loss for 2016.  Hence company offered not to distribute any dividends this year. Income decrease was associated with company's reorganization, weak market situation and cheap container shipping freight rates this year.  Company's profit reached CNY 71.2 billion. In 2017, the market situation is expected to be improved due to possible growth in container sector. Starting from April 1, COSCO shipping will launch the alliance with Hong-Kong-based OOCL, French shipping company CMA CGM and Taiwanese Evergreen Line. Ocean alliance is planning to call into around 350 container ships of 3.5 mln TEUs estimated. Presently, COSCO is using 312 container vessels. 

Crowley's First ConRo Vessel

Recently Florida-based shipping company has announced the launch of it's first Commitment-class ConRo ship El Coquí. This is one of the first world's combinations of container and RO/RO shipping working with liquefied natural gas. The vessel was built and launched in Pascagoula, Mississippi and will be following the route between Florida and Puerto Rico. 
This ConRo was designed to carry around 2400 20' containers and 400 vehicles on its RO/RO decks. 

BCL Orders New Ship for Bermuda Service 

US-based Bermuda Container Line (BCL) has signed a contract to receive a custom boxship which will service Bermuda.

The ship is scheduled to be delivered in Q1 of 2019. According to BCL, it will be the most technologically-advanced vessel on that route. The company's current container vessel, the 1990-built Oleander, will be retired.

The new ship will be able to carry dry and refrigerated containers, vehicles, wheeled equipment, as well as over-sized cargo. It will also feature the ability to convert to liquid natural gas (LNG) operation.

BCL' s chairman John Wight said, “In order to continue to meet the demands of today’s market and to maintain the fast, efficient service for which BCL is known, we needed to execute a plan to bring online an updated, upgraded vessel.”

Three bids were placed on Thessaloniki Port

As the Greek privatizations agency Hellenic Republic Asset Development Fund reported, Greece has got 3 bids on 67% stake of Thessaloniki Port.  Philippines-based International Container Terminal Services (ICTS),  Deutsche Invest Equity Partners GmbH and UK-based Peninsular and Oriental (P&O) Steam Navigation Company placed their bids earlier which were submitted on March, 24. Thessaloniki Port will be privatized the same way as Piraeus was by Cosco Group in August 2016. Privatization of major stake of both Greek ports started in 2014. It is planned that the future buyer of Thessaloniki port will invest about EUR 180 mln into the development up until 2021.