COSCO SHIPPING International (Singapore) Stock

COSCO Shipping International (Singapore) Co., Ltd. operates ship repair, ship building, marine engineering and dry bulk shipping outfit in China and Singapore. The company is the SGX Mainboard-listed subsidiary of China COSCO Shipping Corporation Limited.

The company’s portfolio includes deep-water oil rigs, floating production storage and offloading units, installation vessels, barges, and platform vessels. Its yards cater to a worldwide clientele, delivering new builds of varying types and sizes, including bulk carriers, oil tankers, special purpose carriers and liquefied natural gas carriers. The company is an offshore and marine engineering player in the People’s Republic of China. It has built and delivered a range of products, including semi-submersible accommodation rig and vessel, Sevan 650 drilling unit, semi-submersible tender assist drilling rig, jack-up rig, platform supply vessel, emergency response/rescue/field support vessel, DP3 accommodation barge, subsea supply vessel, shuttle tanker, cargo transfer vessel, and modules of drillship. The company also engages in the engineering related activities and rental of property.

The company’s services include document preparation, collection of freight, cargo operation, vessel husbanding, customs declaration, port authority coordination, administration and settlement of cargo claims, transshipment management, bunkering services and container handling, cargo canvassing, and other value-added services.

During 2016, the company delivered 18 projects. COSCO Zhoushan shipyard delivered four oil tankers; COSCO Guangdong shipyard delivered three livestock carriers and two platform supply vessels; COSCO Dalian shipyard delivered three module carriers, two jack-up rigs, one emergency response and rescue vessel, one salvage lifting vessel and one cargo and training ship; and COSCO Qidong shipyard delivered one semi-submersible accommodation vessel.

The company’s dry bulk business segment began the year under review with a fleet of 10 Panamax and Handymax vessels with a combined capacity of 550,900 DWT. They are chartered to shipping companies in Germany, Norway, Denmark, Greece, Switzerland, the U.K., the U.S.A. and other countries for transporting bulk cargoes, such as iron ore, coal, steel, cement and fertiliser to major ports worldwide.