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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  COSCO Shipping Energy Transprtatn Co Ltd    600026   CNE000001BD6

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Xu Lirong to Chair China Cosco Shipping Group

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01/05/2016 | 05:36am CEST
   By Joanne Chiu 
 

China's State Council approved the establishment of China Cosco Shipping Group Ltd. as the merged grouping for the nation's two biggest shipping groups.

The move comes after China in December approved the merger of China Ocean Shipping (Group) Co., or Cosco Group, and China Shipping (Group) Co.. Beijing is attempting to overhaul its state-owned businesses, with the aim of creating bigger and stronger companies that can better compete abroad.

Xu Lirong, the chairman of China Shipping (Group), has been appointed chairman of China Cosco Shipping Group, according to statements posted by the two groups on their websites Monday. Mr. Xu is a shipping veteran and served in senior positions at Cosco for more than 30 years before joining China Shipping (Group) as president in 2011. He was promoted to chairman in 2013.

Cosco Group Executive Vice President Wan Min will become president of China Cosco Shipping Group.

The proposed merger, which is subject to shareholder approval, involves combining Cosco and China Shipping's listed container-shipping operations to create the world's fourth-largest container-shipping line. It also covers other overlapping business divisions that include port operations, commodities and oil shipping.

Write to Joanne Chiu at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
CHINA COSCO HOLDINGS CO LTD --End-of-day quote.
COSCO SHIPPING HOLDINGS CO LTD 0.00% 5.61 End-of-day quote.-17.13%
COSCO SHIPPING PORTS LTD -0.15% 6.48 End-of-day quote.-20.88%
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Financials ( CNY)
Sales 2018 10 365 M
EBIT 2018 2 014 M
Net income 2018 1 578 M
Debt 2018 25 203 M
Yield 2018 2,53%
P/E ratio 2018 17,40
P/E ratio 2019 12,82
EV / Sales 2018 4,25x
EV / Sales 2019 4,08x
Capitalization 18 861 M
Chart COSCO SHIPPING ENERGY TRAN
Duration : Period :
COSCO Shipping Energy Tran Technical Analysis Chart | 600026 | CNE000001BD6 | 4-Traders
Technical analysis trends COSCO SHIPPING ENERGY TRAN
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 5,68  CNY
Spread / Average Target 6,0%
EPS Revisions
Managers
NameTitle
Xiao Wen Huang Chairman
Yi Weng Chairman-Supervisory Board
Ji Hong Chen Member-Supervisory Board
Yong Ping Ruan Independent Non-Executive Director
Sing Chi Ip Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
COSCO SHIPPING ENERGY TRANSPRTATN CO LTD-12.42%2 983
AP MOLLER-MAERSK-13.19%31 493
BOLLORÉ-9.54%14 905
COSCO SHIPPING HOLDINGS CO LTD-17.13%8 066
HAPAG-LLOYD AG6.09%7 717
ORIENT OVERSEAS (INTERNATIONAL) LTD-2.65%5 862