Cosco Shipping International (Hong Kong)Co Acquires Remaining 49% Stake in Yuan Hua in Related Party Deal

MT NewswiresDec 31, 2024 17:26

COSCO SHIP INTL (00517.HK) acquires 49% equity in Yuanhua Technology and Supply Company.

On December 30, Gelonghui reported that COSCO SHIP INTL (00517.HK) announced that Yuanhua is a non-wholly-owned subsidiary of the company, with a 51% stake held by the company's wholly-owned subsidiary Yuantong. On December 30, 2024, the seller and Yuantong entered into a share purchase agreement; accordingly, Yuantong agreed to acquire the remaining 49% equity of Yuanhua from the seller for $292,524. After the closing, Yuanhua will become a wholly-owned subsidiary of Yuantong and the company. Yuanhua is a non-wholly-owned subsidiary of the company, with a 51% stake held by Yuantong and a 49% stake held by the seller. Its main Business is to service Ships arriving at North American ports.

Gelonghui FinanceDec 30, 2024 18:43

COSCO SHIP INTL (00517) plans to acquire the remaining 49% stake of Yuanhua for 0.2925 million USD.

COSCO SHIP INTL (00517) issued an announcement, Yuanhua is a non-wholly owned subsidiary of this company, wholly owned by this company...

Zhitong FinanceDec 30, 2024 18:42

Market Update︱Shipping stocks rise again, OOIL rises over 8%, shipping companies recently announced a price increase notice for January.

Recently, shipping companies announced a new round of freight rate adjustment plans for January 2025. Companies such as Maersk, CMA, and HMM have successively adjusted rates for some routes.

Zhitong FinanceDec 24, 2024 11:44

BOC HONG KONG (02388.HK) and COSCO SHP SG are launching an electronic service platform for cargo container shipping.

BOC HONG KONG (02388.HK) and COSCO SHP SG have collaborated to launch a new container shipping electronic service platform "Port Exchange," achieving real-time cargo account management and fund collection and payment, providing the shipping industry with a safe, efficient, and convenient electronic payment experience, aiding in the digital transformation and upgrade of the shipping industry. BOC HONG KONG stated that by utilizing the latest iGTB API1 and other technologies, it supports the integration of COSCO SHP SG's cargo management system with the bank's platform, allowing COSCO SHP SG to achieve rapid, bulk, automated collection and reconciliation through online channels, significantly enhancing operational efficiency and reducing personnel costs.

AASTOCKSDec 18, 2024 12:21

Middle East Sea Freight Recycling Label Qatar Energy Project

The awarding ceremony of the Qatar Energy Project's six QC-Max 0.271 million ultra-large LNG carriers was held at Qatar Energy Company's Doha headquarters, Sino-Far Sea Shipping said on its official Weibo. Zhongguang Marine Energy is a joint venture between Shanghai Zhongguang LNG and merchant shipping company Mitsui. The two sides jointly signed seven 0.174 million LNG carriers for the project for the first time in 2022.

AASTOCKSDec 12, 2024 07:18