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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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Milestones

Home > About us > Milestones

2001-2016

Year Events
2016 The acquisition of China Shipping Ports Development Co., Limited and the disposal of Florens Container Holdings Limited were completed.
  A co-operation agreement was entered into with PSA Corporation Limited (“PSA”) in relation to the investment in a major container terminal in Singapore, further deepening the cooperation between the Company and PSA.
  The Company entered into a share sale and purchase agreement with ECT Participations B.V. and Europe Container Terminals B.V. to acquire a 35% equity interest in Euromax Terminal.
  The Company entered into a concession agreement with Abu Dhabi Ports Company PJSC (“AD Ports”) in relation to the establishment of a joint venture to construct, manage and operate Khalifa Port Container Terminal Phase II. The Company will hold a 90% equity interest in the joint venture, and AD Ports will hold the remaining 10% equity interest.
  The Company entered into a share sale and purchase agreement with APM Terminals B.V. to acquire 40% of the issued share capital of APM Terminals Vado Holding B.V.
  COSCO SHIPPING Ports and Hutchison Port Holdings Trust announced that Hongkong International Terminals Limited, COSCO-HIT Terminal and Asia Container Terminal had entered into a formal collaboration agreement for the efficient co-management and operation of berths across Terminals 4, 6, 7, 8 and 9 at Kwai Tsing, New Territories, Hong Kong.
  COSCO SHIPPING Ports launched its new logo, which reflects the change of name of the Company and its globalisation development strategy for the new era.
2015 Announced the proposed acquisition of all the issued shares of CSPD at a consideration of approximately RMB7.63 billion and the proposed disposal of Florens at a consideration of approximately RMB7.78 billion, to focus on the development of the terminals business.
  Announced the acquisition of a 26% effective equity interest in Kumport Liman Hizmetleri ve Lojistik Sanayi ve Ticaret A.. (“Kumport Terminal”) in Istanbul, Turkey.
2014 Acquired a 40% effective equity interest in Asia Container Terminal adjacent to COSCO-HIT Terminal, creating a combined 1,380 metre quay length and greatly enhancing the flexibility to berth mega-ships.
  The amendment agreement of the concession agreement signed by Piraeus Terminal and Piraeus Port Authority S.A. became effective after being ratified by the Hellenic Parliament.
  The automated loading and unloading system at Xiamen Ocean Gate Terminal launched a trial run on 19 December 2014. It is the first fully electrical and fully intelligent automated container terminal project in China to achieve zero-emissions at site.
2013 Acquired a 39.04% equity interest in Taicang Terminal from COSCO, indicating the flagship position of COSCO Pacific within COSCO’s terminals business.
2012 Formed a joint-venture company with China Shipping Terminal Development (Hong Kong) Limited and China Merchants Holdings (International) Company Limited to acquire a 30% equity interest in Kao Ming Terminal for a consideration of US$135,000,000. Following completion on 27th December 2012, the three joint-venture partners each holds a 10% effective interest in Kao Ming Terminal
  Increased its equity interest in Quan Zhou Pacific Terminal from 71.43% to 82.35% for a consideration of approximately RMB360,000,000 (equivalent to approximately US$57,000,000)
2011 Xiamen Ocean Gate Container Terminals Co., Ltd. started trial run in November.
  Signed an agreement with Qingdao Port Group to sell the 50% equity interest in Qingdao Cosport International Container Terminals Co., Ltd on 10 March, to optimize the Group's terminal business structure.
2010 From 30 Jun onwards, the Group's investment in Yantian terminal was reclassified from an available-for-sale financial asset to an associate, and is accounted for using the equity method.
  On 11 Jun, the acquisition of about 10% stake in Yantain Terminal was complete and the Group's shareholding in Yantian terminal increased from approximately 5% to approximately 15%.
  From 1 Jun onwards, Piraeus Terminal is entirely operated by its own employees.
  On 29 April, the Group announced the acquisition of approximately 10% additional equity interests in Yantian Terminal for a total consideration of US$520,000,000. The acquisition will enhance the quality as well as the profitability of the Group's terminal business, and increase the Group's market share in Southern China.
  The disposal of 49% equity interest in COSCO Logistics was complete on 30 March.
2009 Officially took over Pier 2 of the Piraeus Port in Greece on 1 Oct.
  Announced the disposal of 49% equity interest in COSCO Logistics to China COSCO on 27 August.
  Signed an agreement with Dalian Port (PDA) Company Limited to sell the 8.13% equity interest in Dalian Port Container Co., Ltd on 29 June.
  The law ratifying the concession agreement was published in the Government Gazette dated 30 March 2009.
  The agreement for the concession of Piers 2 and 3 of the Piraeus Port in Greece was ratified by the Greek Parliament on 5 March.
2008 Signed a concession agreement with Piraeus Port Authority SA for the operation and development of Piers 2 and 3 of the Piraeus Port in Greece. President Hu Jintao of China and Prime Minister Kostas Karamanlis of Greece attended and witnessed the signing ceremony.
  Commencement of operation of Jinjiang Pacific Terminal in which the Group holds an 80% stake.
  Sale and lease back of 118,094 TEUs of containers.
2007 Sales and managed back of 136,015 TEUs of containers.
  Qingdao Qianwan Container Terminal Co., Ltd. signed an joint venture agreement to acquire 80% stake in Qingdao New Qianwan Container Terminal Co., Ltd. to build and operate 10 berths in the south bay of Qingdao Qianwan.
  Signed an joint venture agreement to acquire a majority stake of 70% in Xiamen Yuanhai Container Terminal Co., Ltd. to invest in, construct and operate four berths at Haicang port area in Xiamen.
  The shares transfer of 20% stake in Suez Canal Container Terminal S.A.E. is completed on 30th October 2007.
  Signed an agreement to acquire a majority stake of 80% in Jinjiang Pacific Ports Development Co., Ltd. to invest, construct and operate container terminals and bulk cargo terminal, other terminals and terminal related transportation and agency businesses in Jiajiang port.
  Following launch of two berths in March of this year, the other four berths of Guangzhou South China Oceangate Container Terminal Co., Limited launches on 29th September of the same year. The terminal is offically operating in full capacity.
  Announced to dispose 20% interest in Chong Hing Bank to divest its non-core investment and focus on terminal business as the principal earnings driver .
  COSCO-HIT handled 171,610 TEUs of containers in May, the highest monthly throughput since operation in 1994.
  Guangzhou South China Oceangate Container Terminal Co., Limited and Ningbo Yuan Dong Terminals Ltd. officially commenced operation in March.
2006 Acquired an additional 10% equity interest in Shanghai Pudong International Container Terminals Limited.
  The China International Marine Containers (Group) Co., Ltd. Share Reform Proposal was approved by more than two-third of CIMC Tradable A-Share shareholders.
  Signed a joint venture agreement to acquire a 30% equity interest in Tianjin Port Euroasia International Container Terminal Co., Limited to construct, manage and operate three berths at Tianjin North Port.
  Signed a joint venture to acquire a 20% equity interest in Ningbo Yuan Dong Terminals Limited to construct, manage and operate five berths at Beilun Port Phase IV and V in Ningbo.
  Substantially expand into container management business by disposal of 600,082 TEUs of containers and subsequently, provision of administrative and management services in respect of the 600,082 TEUs.
  Acquired a majority stake of 71.43% in Quanzhou Pacific Container Terminal Co., Limited to manage and operate six berths in Quanzhou port.
  The Board of COSCO Pacific was honoured to be presented the“Directors of The Year” awarded by The Hong Kong Institute of Directors.
2005 Change of immediate controlling shareholder from COSCO (Hong Kong) Group Limted to COSCO Pacific Investment Holdings Limited (a wholly owned subsidiary of China COSCO Holdings Company Limited).
  Signed a joint venture agreement in May to acquire a 20% equity interest in Nanjing Port Longtan Container Co., Limited which commenced operations in August.
  The fleet capacity of Florens Container Holdings Limited exceeded 1 million TEUs.
  Antwerp Gateway NV in Belgium commenced operation.
  Dalian Port Container Terminal Co., Ltd., in which COSCO Pacific holds a 20% equity interest, commenced operation in July and entered into an agreement with Dalian Port (Group) Co., Ltd. in September to acquire four berths of Dalian Dayaowan container terminal Phase II in stages.
  Florens' Business Planning model system was officially launched.
  Tianjin Five Continents International Container Terminal Co., Ltd, 14% equity interest owned by COSCO Pacific, held a ceremony to celebrate its operation commencement and the milestone of exceeding throughput of 1 million TEUs.
  Signed a joing venture agreement to acquire a 59% equity interest in a joint venture company to develop phase II of Guangzhou Nansha port to strengthen our presence in Pearl River Delta.
  Signed an agreement to acquire a 10% equity interest to develop phase II of Yangshan Port in Shanghai.
  Signed a share purchase agreement to acquire a 20% equity interest in Suez Canal Container Terminal S.A.E. at Port Said, Egypt, to expand overseas terminal investment in the Eastern Mediterranean.
2004 Qingdao Qianwan Container Terminal Co., Ltd. commenced operation. This joint veture company is expected to become major operator in Qingdao port.
  Acquired 49% stake in COSCO Logistics Co. Ltd.
  Acquired 50% interest in Yingkou Container Terminals Company Limited from COSCO.
  Rated as one of the enterprises with the "Best corporate Governance" among the Hang Seng Index constituent stocks by Standard & Poor's.
  Entered into a share purchase agreement with P&O Ports Euorpe NV to acquire 25% interest in Antwerp Gateway NV in Belgium to expand terminal business in Europe. This is the Group's second overseas terminal investment.
  Acquired approximately 16.23% stake in China International Marine Containers (Group) Co., Ltd. from COSCO.
2003 Shanghai Pudong International Container Terminals Limited, in which COSCO Pacific holds a 20% equity interest, officially opened for business.
  Included as a constituent stocks of the Hang Seng Index.
  Signed a joint venture agreement with the largest global shipping line, A.P. Moller, P&O Ports and Qingdao Port Authority to establish Qingdao Qianwan Container Terminal Co. Ltd., in which the Group holds a 20% interest. The joint venture represents a milestone of a synergistic Sino-Anglo-Danish cooperation.
  Drewry Shipping Consultants Ltd. published its annual review of global container terminal operators. COSCO Group was ranked as the eighth largest terminal operator in 2002. Its terminal portfolio is mainly managed and operated by COSCO Pacific.
  Acquired 49% stake in COSCO-PSA Terminal Private Limited - the Group's first overseas terminal joint venture company.
  Granted the Significant Improvement Award in the Hang Seng Index Category in the "Best Corporate Governance Disclosure Awards" released by the Hong Kong Society of Accountants. It was the first Chinese company to receive such an honour.
  Entered into a joint venture agreement to acquire 14% equity interest in Tianjin Five Continents International Container Terminal Co. Ltd.
2002 Florens' container leasing platform was established to provide on-line leasing services. E-commerce Exploration Work (Phase II) started providing on-line leasing services to clients.
  Celebrated the Maiden Voyage of "COSCO Hong Kong" to Hong Kong at COSCO-HIT Terminal.
2001 Subscribed for an 8% interest in Dalian Port Container Co. Ltd.

1987-2000

Year Milestones
2000 Signed joint venture agreement to acquire 20% stake in Shanghai Pudong International Container Terminals Limited which is the first terminal joint venture company formed by the Group .
  Florens Container Services Company Limited ISO 9002 approved.
  COSCO-HIT Terminals (Hong Kong) Limited handled 139,455 TEUs of containers in July, the highest monthly throughput since operation in 1994.
  The Group's container fleet capacity reached 500,000 TEUs.
1998 Included as one of the constituent stocks of the Hang Seng 100 Index.
1997 Acquried four container terminals in the PRC from China Ocean Shipping (Group) Company ("COSCO"), including Shanghai Container Terminal Limited (10%), Qingdao Cosprt Internatinal Contianer Terminals Co., Ltd. (50%), Yantian International Container Terminals Limtied (5%) and Zhagnjiagang Win Hanverky Continer Terminal CO., Ltd. (51%). The Group became China Ocean Shipping (Group) Company's flagship of container terminal investment and operation business.
1996 Florens Group Limited changed its name to COSCO Pacific Limited for the Group to reflect the relationship between th Group and its ultimate holding company, China Ocean Shipping (Group) Company
  COSCO-HIT Terminals (Hong Kong) Limited purchased five new rubber tyre gantry cranes and one quay crane at Container Terminal 8 (East).
  Included as one of the constituent stocks of the Hang Seng Mid-Cap 50 Index.
  Master and short-term leases were added to the portfolio which demonstrated our committment in providing a variety of customer services. In the same time, open-tops and flat-racks were added to the expanding dry-cargo and refrigerated container fleets.
1995 Acquired 50% stake in COSCO-HIT Terminals (Hong Kong) Limited from COSCO (HK) Group Limited, which is engaged in the provision of container terminal sevices and the operation of Container Termianl 8 (East) in Kwai Chung, Hong Kong. This is the Group's first container terminal investment.
  COSCO-HIT Terminals (Hong Kong) Limited throughput reached the one-million benchmark since operation in 1994.
1994 Florens Group Limited incorporated in Bermuda on July 26 and successfully listed on the Hong Kong Stock Exchange on December 19 with market capitalization of HK$2.9 billion.
  Headquaratered at Singga Commercial Centre in Sheung Wan with about eleven full-time employees, Florens Group Limited became China Ocean Shipping (Group) Company's flagship of container leasing business.
1987 Through Fairbreeze Shipping Company Limited and Florens Shipping Corporation S.A., China Ocean Shipping (Group) Company commenced container leasing business.
  The Group owned and operated only about 3,300 TEU of containers, all of which were dry freight containers, and COSCO was the only customer.