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COSCO Shipping International (Singapore) Co Ltd (COSC.SI)

COSC.SI on Stock Exchange of Singapore

0.29SGD
18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

Cosco Shipping International (Singapore) posts Q2 loss attributable of S$20.8 mln
Friday, 4 Aug 2017 05:32am EDT 

Aug 4 (Reuters) - Cosco Shipping International (Singapore) Co Ltd ::Q2 loss attributable to equity holders of co S$20.8 million versus loss of S$36.8 million ."As such, 2017 will remain challenging for group".Qtrly turnover S$524.7 million versus S$762.9 million."Expects operating margins on new ship building and offshore contracts to continue to be subject to severe downward pressure"."Level of new ship building orders continues to remain very low"."Ship building segment will continue to be highly challenging in 2017".Expects difficult and challenging business and operating conditions to persist; does not exclude possibility that conditions may worsen.  Full Article

COSCO Shipping International Singapore enters MoU with Cosco Shipping South East Asia
Friday, 4 Aug 2017 05:10am EDT 

Aug 4 (Reuters) - Cosco Corporation (Singapore) Limited ::Non-binding Memorandum Of Understanding.Enters MoU with Cosco Shipping (South East Asia) Pte Ltd .Proposed acquisition is expected to be of a value less than 5% of latest audited net tangible assets of group.MoU in relation to acquisition of about 40% of issued shares and paid-up share capital of Pt. Ocean Global Shipping.Vendor is wholly-owned by china Cosco Shipping Corporation Limited.  Full Article

Cosco Corp (Singapore) updates on building contract
Friday, 14 Jul 2017 06:19am EDT 

July 14 (Reuters) - Cosco Corporation (Singapore) Limited :Update on building contract for one unit jackup drilling rig.Not able to ascertain financial impact of amendment at this point in time.Owner, Cosco Nantong have agreed to further extend time for delivery of undelivered rig bearing hull number.Rig bearing hull number n408 is ready for delivery from 31 Dec 2017 until 31 Dec 2019.  Full Article

COSCO Corporation updates on sevan 650 drilling unit
Monday, 10 Jul 2017 06:00am EDT 

July 10 (Reuters) - COSCO Corporation (Singapore) Limited ::Update on Sevan 650 drilling unit.Rigowner and COSCO Qidong have agreed to further extend delivery deferral period for Sevan developer until 30 June 2020.Delivery deferral period to be extended upon refund of a sum of US$25.3 million plus interest by COSCO Qidong.  Full Article

Cosco Shipping International (Singapore) responds to query regarding trading activity
Wednesday, 21 Jun 2017 09:43pm EDT 

June 22 (Reuters) - Cosco Shipping International (Singapore) Co Ltd :Response to query regarding trading activity.Management has commenced and is actively reviewing potential investment opportunities.  Full Article

Cosco Shipping International (Singapore) says unit entered into contract
Monday, 15 May 2017 05:26am EDT 

May 15 (Reuters) - Cosco Shipping International (Singapore) Co Ltd ::Unit entered into a contract with a european buyer to build one Floating Storage Regasification Module.Cosco Qidong and European buyer have agreed to keep contract prices confidential.Transaction is not expected to have material impact earnings per share of co for year ending 31 Dec 2017.  Full Article

Cosco Corporation (Singapore) announces resignation Ma Hong Han as CFO
Tuesday, 9 May 2017 05:40am EDT 

May 9 (Reuters) - Cosco Corporation (Singapore) Limited -:Change Of Chief Financial Officer.Announces resignation Ma Hong Han as chief financial officer.Liang Jianfeng has been appointed as acting chief financial officer of company.Parent company is in midst of identifying a new chief financial officer.  Full Article

Cosco Corporation(Singapore)Ltd entered into SP agreement
Friday, 5 May 2017 05:13am EDT 

May 5 (Reuters) - Cosco Corporation (Singapore) Limited ::Entered into a conditional sale and purchase agreement with Cosco Shipping Heavy Industry.Aggregate valuation of sale shares was determined to be RMB 1.59 billion as at 31 december 2016.Proposed disposal involves disposal of co's ship repair, shipbuilding and marine engineering business in PRC.Agreement in relation to proposed disposal of 51pct equity interest in cosco shipyard group.Deal in relation to proposed disposal of 50pct equity interest in cosco (nantong) shipyard co., ltd..Intends to use sale proceeds from proposed disposal to fund future projects.Company to sell to purchaser 39.1pct equity interest in Dalian Cosco Shipyard.Parties agreed that aggregate consideration of sale shares is RMB 1.47 billion.Gain on proposed disposal is expected to be approximately S$360.07 million.  Full Article

Cosco Shipping International Singapore says Q1 loss attributable S$78.9 mln
Friday, 5 May 2017 05:10am EDT 

May 5 (Reuters) - Cosco Shipping International (Singapore) Co Ltd ::Qtrly turnover S$401.8 million versus S$722.3 million.Q1 loss attributable to equity holders of co S$78.9 million versus net loss of S$14.4 million.Expects competition to remain keen even as crude oil prices continue to remain low.2017 will remain challenging for group."Expects difficult and challenging business and operating conditions to persist and may even worsen".Group's offshore marine segment has been "adversely affected" by low crude oil prices over past few years."Group expects operating margins on new ship building and offshore contracts to continue facing severe downward pressure".Ship building segment will continue to be highly challenging in 2017.  Full Article

Cosco Corporation (Singapore) updates on construction contract for two units jack-up drilling rigs
Friday, 7 Apr 2017 05:42am EDT 

Cosco Corporation (Singapore) Limited : Update On Construction Contract For Two (2) Units Jack-up Drilling Rigs . "Owner and Cosco Dalian also agreed to delay delivery of energy engager and energy encounter until further notice" . Owner and Cosco Dalian have mutually agreed to extend rig acceptance date of first rig, energy engager to end of Sept 2017 . "It is not possible to ascertain financial impact of rescheduling at this point in time" .Owner and Cosco Dalian have mutually agreed to extend rig acceptance date of second rig, energy encounter to end of march 2018.  Full Article