Marine Transportation
China COSCO Holdings Co Ltd Announces Board Changes-DJ
Dow Jones reported that the chairman of China China Ocean Shipping (Group) Co., or Cosco Group has stepped down with immediate effect, at a time when its listed flagship China Cosco Holdings Ltd. is struggling to return to profitability amid the global shipping downturn. Wei Jiafu stepped down as chairman for the reason of age, the Organization Department said. It appointed group President Ma Zehua, as the group's new Chairman and party secretary, while Executive Vice President Li Yunpeng will succeed Mr. Ma as President, it added. Mr. Wei, who is also Chairman of the Hong Kong and Shanghai-listed China Cosco, will likely step down from the post at the listed unit following a board meeting, which hasn't been scheduled.
Rederi Transatlantic AB Updates on Restructuring of Industrial Shipping Division (IS); Closes Some Offices, Reduces Headcount and Aims to Divest Port Facility
Rederi Transatlantic AB announced that the Company's program to restructure its Industrial Shipping Division (IS) is progressing. IS has finalized a migration and subsequent closure of its taxlease structures in the United Kingdom. Additionally, local co-determination negotiations within IS in Sweden aiming to shrink IS’ expense structure by reducing headcount by 30 employees have been finalized. Consequently, the offices in Vasteras and Stockholm, Sweden, will be closed and part of the administration in Hull, England, is planned to be moved to IS’ headquarters in Gothenburg, Sweden. The Company also announced that IS is near completion of a divestment of a port facility. As part of the strategy to strengthen IS’ commercial activities the Company is expanding by creating 19 new positions within the commercial department. This is believed to increase IS’ competitiveness and ability to serve new and existing customers. Moreover, in order to optimize IS’ fleet structure, the Company is in the process of entering into a sales agreement for one of the vessels.
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| Financials | +0.17% |
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| Technology | +0.50% |
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| DOW | 15,040.59 | +65.63 |
+0.44% |
| S&P 500 | 1,623.31 | +8.35 |
+0.52% |
| NASDAQ | 3,451.06 | +16.57 |
+0.48% |
| TR US Index | 147.27 | +0.62 |
+0.42% |
Analyst Research
| Report Title | Price |
|---|---|
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Provider: Renaissance Capital
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$81.00
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Provider: Renaissance Capital
|
$81.00
|
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Provider: Renaissance Capital
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$92.00
|
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Provider: Bohai Securities Co.,Ltd.
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$115.00
|
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Provider: Bohai Securities Co.,Ltd.
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$23.00
|
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