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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  COSCO SHIPPING Development Co Ltd    601866   CNE1000008F2

COSCO SHIPPING DEVELOPMENT CO LTD (601866)
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China Shipping Container Lines to Order 5 Triple-E Mega Container Ships

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04/29/2013 | 02:01pm CEST

By Costas Paris

China Shipping Container Lines (>> China Shipping Container Lines Co Ltd) plans to order five triple-E container ships, becoming the second operator after market leader A.P. Moller-Maesk A/S (MAERSK-A.KO) to add the huge new fuel-efficient vessels to its fleet.

In a statement to the Shanghai stock exchange Saturday, CSCL said it needs the new ships to "raise its core competitiveness." The ships, the biggest of their kind, can carry up to 18,000 containers. The company said it will give further details after it has finalized the order.

Each triple-E ship is expected to cost around $140 million for a combined sum of $700 million, with the final order likely to be announced next month and expected to go to shipyards in South Korea, according to a person with direct knowledge of the matter.

Hyundai Heavy Industries (>> Hyundai Heavy Industries Co., Ltd.), Samsung Heavy Industries (>> Samsung Heavy Industries Co.,Ltd) and Daewoo Shipbuilding & Marine Engineering (>> Daewoo Shipbuilding & Marine Engineering) have submitted bids for the order, the person said.

Daewoo Shipbuilding built the triple-E class vessels for Maesk Line, the wholly-owned container-shipping unit of the Danish conglomerate. Maersk Line has ordered 20 triple-E ships, with the first due for delivery in the middle of this year.

CSCL, China's biggest contained shipper by capacity, is a unit of China's state-run China Shipping (Group) Co. CSCL reported a net loss of 688.9 million yuan ($111.7 million) in the three months to March 31, down from CNY1.45 billion in the same period last year.

(Jeffrey Ng in Hong Kong contributed to this article.)

Write to Costas Paris at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
AP MOLLER-MAERSK 1.19% 9514 Delayed Quote.-12.23%
COSCO SHIPPING DEVELOPMENT CO LTD -0.67% 2.98 End-of-day quote.-12.02%
DAEWOO SHIPBUILDING & MARINE ENGINEERING --End-of-day quote.
HYUNDAI HEAVY INDUSTRIES CO., LTD. --End-of-day quote.
SAMSUNG HEAVY INDUSTRIES CO.,LTD --End-of-day quote.
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Financials ( CNY)
Sales 2018 -
EBIT 2018 1 839 M
Net income 2018 1 639 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 22,92
P/E ratio 2019 17,53
Capi. / Sales 2018 0
Capi. / Sales 2019 1,69x
Capitalization 28 422 M
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COSCO SHIPPING Development Technical Analysis Chart | 601866 | CNE1000008F2 | 4-Traders
Technical analysis trends COSCO SHIPPING DEVELOPMENT
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Income Statement Evolution
Consensus
 
Mean consensus
Number of Analysts
Average target price -
Spread / Average Target -100%
EPS Revisions
Managers
NameTitle
Da Xiong Wang Chief Executive Officer & Executive Director
Hong Jun Ye Chairman-Supervisory Board
Yue Ying Sun Chairman
Chong Liu Executive Director & General Manager
Dong lin Zhu Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
COSCO SHIPPING DEVELOPMENT CO LTD-12.02%4 448
AERCAP HOLDINGS N.V.5.04%8 132
ALD15.37%6 972
TOKYO CENTURY CORP28.26%6 811
GRENKE AG24.81%5 101
BOC AVIATION LTD16.93%4 312