1199.HK - COSCO SHIPPING Ports Limited

HKSE - HKSE Delayed Price. Currency in HKD
6.280
-0.060 (-0.95%)
At close: 4:08PM HKT
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Previous Close6.340
Open6.240
Bid6.270 x 0
Ask6.280 x 0
Day's Range6.280 - 6.400
52 Week Range6.010 - 9.410
Volume2,597,994
Avg. Volume2,622,916
Market Cap19.854B
Beta (3Y Monthly)0.43
PE Ratio (TTM)7.58
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.30 (4.73%)
Ex-Dividend Date2019-09-12
1y Target EstN/A
  • Where COSCO SHIPPING Ports Limited (HKG:1199) Stands In Terms Of Earnings Growth Against Its Industry
    Simply Wall St.

    Where COSCO SHIPPING Ports Limited (HKG:1199) Stands In Terms Of Earnings Growth Against Its Industry

    After looking at COSCO SHIPPING Ports Limited's (SEHK:1199) latest earnings announcement (30 June 2019), I found it...

  • Oil Set for Quarterly Loss as Demand Worries Offset Saudi Strike
    Bloomberg

    Oil Set for Quarterly Loss as Demand Worries Offset Saudi Strike

    (Bloomberg) -- Oil headed for its weakest quarter since late last year as fears over a global economic slowdown overshadowed an unprecedented attack on Saudi Arabia’s key energy facilities.Brent futures have slumped about 8% since the end of June after a brief spike earlier this month due to drone strikes on the Abqaiq processing facility and Khurais oil field. The Saudis are restoring supply quicker than expected, the subsequent sell off underscores investors’ focus on weakening oil demand from slower economic growth and the U.S.-China trade war.“Oil supply remains quite adequate and the U.S. has a lot of oil,” said Phil Streible, senior market strategist at R.J. O’Brien & Associates. “The economic picture might be weakening a bit, so demand is softening with that.” Political tensions have abated somewhat since the Sept. 14 strike on Saudi Arabia as the parties involved take a cautious approach. The kingdom’s Crown Prince Mohammed Bin Salman warned that war between his country and Iran would bring a “total collapse of the global economy” and should be avoided. He added he prefers non-military pressure to stymie Iranian ambitions. The U.S. and Saudi Arabia have blamed Iran for the attacks, though the Persian Gulf nation denies it.Brent for November settlement, which expires Monday, fell 96 cents to $60.95 a barrel on the London-based ICE Futures Europe Exchange at 11:18 am in New York. Prices are up 0.9% this month. The more-active December contract was down 60 cents at $60.44. The global benchmark crude traded at a premium of $5.71 to West Texas Intermediate.WTI for November delivery lost 63 cents to $55.29 a barrel on the New York Mercantile Exchange. Prices are little changed this month, and down 5.4% for the quarter.Yemen Cease-FireSaudi Arabia has agreed to a limited cease-fire in several areas of Yemen including the capital Sana’a, which is controlled by Iran-backed Houthi rebels, a Yemeni government official said last week, easing tensions in the region. Still, some hostilities continue after the Houthis, which claimed responsibility for the Saudi attacks, said they had captured soldiers from the kingdom during an operation near the border of the countries.QuickTake explainer: Understanding the Conflicts Leading to Saudi AttacksThe oil market has also been driven by the prolonged clash between Washington and Beijing over trade, and the knock-on effects on economic growth. Their dispute has already almost halved oil-consumption growth, Citigroup Inc. said earlier this month.The world’s two largest economies will head into another round of high-level trade talks following China’s week-long national holidays starting Oct. 1. Beijing said it would continue to open up its financial markets amid reports that the U.S. is considering restrictions on fund flows to China.\--With assistance from Sharon Cho.To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net;Catherine Ngai in New York at cngai16@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Mike Jeffers, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • A 20,000-Kilometer Voyage May Halt Due to Iran Oil Sanctions
    Bloomberg

    A 20,000-Kilometer Voyage May Halt Due to Iran Oil Sanctions

    (Bloomberg) -- More than two months and 20,000 kilometers (12,000 miles) ago, the tanker Da Yuan Hu left Singapore and headed to Mexico to pick up a shipment of crude oil. On Thursday, with less than two weeks to go until it reaches its destination, it found itself in geopolitical limbo.The ship, along with dozens of others, is now ensnared in the standoff between the U.S. and Iran. The White House announced penalties against the vessel’s owner, China’s COSCO Shipping Tankers (Dalian) Co., in connection with violating sanctions by shipping Iranian crude. Indian Oil Corp. is considering alternatives to the Da Yuan Hu, according to people familiar with the situation who asked not to be named because the information isn’t public.The announcements by the U.S. Treasury and State departments left shipbrokers and charterers scrambling to cancel bookings with sanctioned companies and letting provisional charters lapse. Uncertainty still remains on whether cargoes that have already been loaded onto the vessels of sanctioned firms would be allowed to deliver, or whether they would have to transfer their loads to unsanctioned tankers.The Da Yuan Hu was supposed to transport oil from Mexico’s Dos Bocas to India’s eastern coast of Paradip, the people said. While the company is looking for a replacement, its plans may still change, one of the people said.An Indian Oil spokesman declined to comment.Supertanker Yuan Qiu Hu, earlier chartered by Atlantic Trading & Marketing Inc., a subsidiary of Total U.S., was headed to Galveston to pick up oil for delivery to South Korea. The vessel has since been adrift off the eastern coast of the U.S., after moving at a speed of more than 9 knots before the sanctions Wednesday.ATMI is seeking to replace the Yuan Qiu Hu, helping to push up freight rates for supertankers hauling U.S. crude to Asia, according to people with knowledge of the situation. ATMI didn’t immediately return an e-mail seeking comment.SK Innovation Co. Ltd., which had planned to charter the COSCO subsidiary’s Cosmerry Lake for shipping U.S. crude to Asia in October, is also looking for a replacement vessel after assessing the situation, according to one of the people with knowledge of the matter who asked not to be identified as the information is private. The Korean company had refrained from immediately responding to the U.S. move to sanction the COSCO subsidiary earlier.The spot rates for supertanker voyages from Arab Gulf to China soared 41% to $47,480 on Thursday, data compiled by Bloomberg show.See also: Tanker Costs Surge as Chinese Firms Sanctioned Over Iran OilIn the shipping market, charterers were seeking more clarity on the ownership of vessels to be sure that they’re not a part of Cosco’s Dalian unit, according to shipbrokers.COSCO Dalian is a unit of COSCO Shipping Corp., the biggest marine transport firm in the world by fleet size, according to Clarkson Research Services Ltd. The Dalian unit owns or operates anywhere from about 20 to 50 petroleum tankers worldwide, according to estimates from industry sources. Penalties don’t apply to COSCO’s parent or other subsidiaries, the Treasury Department said in a statement.China Concord Petroleum Co., Kunlun Shipping Co., Pegasus 88 Ltd., and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. were charged with knowingly violating restrictions on handling and transacting Iranian petroleum. Additional restrictions were also imposed on five executives at the companies, as well as Kunlun Holding Co. and the COSCO Dalian unit, which own or control one or more of the sanctioned entities.(Updates with details on charterers’ request in 10th paragraph.)\--With assistance from Alaric Nightingale, Lucia Kassai, Dan Murtaugh and Andrew Janes.To contact the reporters on this story: Serene Cheong in Singapore at scheong20@bloomberg.net;Debjit Chakraborty in New Delhi at dchakrabor10@bloomberg.net;Sharon Cho in Singapore at ccho28@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, David Marino, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Tanker Costs Surge as Chinese Firms Sanctioned Over Iran Oil
    Bloomberg

    Tanker Costs Surge as Chinese Firms Sanctioned Over Iran Oil

    (Bloomberg) -- Oil-tanker costs are surging after the U.S. slapped sanctions on Chinese companies it accused of hauling Iranian crude, prompting a scramble in freight markets to secure alternative vessels.Rates for ships hauling 2 million-barrel cargoes of Middle East oil to Asia jumped 19%, according to data from the Baltic Exchange in London. Shares of tanker operators also gained. The cost to transport U.S. crude to Asia on supertankers rose 6.3% to $8.5 million on Thursday, according to people with knowledge of the situation.“There’s a lot of panic out there,” said Halvor Ellefsen, a tanker broker at Fearnleys in London. “Modern vessels are available, but just hard to get.”The list of sanctioned Chinese companies includes a unit of COSCO Shipping Corp., which operates the world’s second-largest tanker fleet. The penalties bar U.S. citizens and companies from dealing with the sanctioned entities, effectively blocking them from American banks at the heart of the global financial system. As a consequence, oil traders spent the day canceling bookings and letting provisional charters lapse.Tankers rates from the Middle East to China were 75.13 Worldscale points, the Baltic Exchange said Thursday. The same rate was at 63.38 on Wednesday. Worldscale is an industry standard that allows traders to easily calculate costs and returns from thousands of different tanker routes. Shares of Frontline Ltd. advanced 7.5% in Oslo while Euronav NV gained 8.1% in Antwerp.Rates were already rallying after attacks on Saudi oil installations earlier this month obliged traders to seek alternative cargoes, particularly from suppliers in the U.S. and elsewhere in the Atlantic Basin.“This certainly gives a slight premium to non-Chinese VLCCs,” said Randy Giveans, an analyst at Jefferies LLC in Houston. Rates were already being boosted for multiple reasons including the Saudi attacks, ships getting refitted for new sulfur-emission rules, and importer nations building stockpiles, he said.The sanctioned COSCO unit, COSCO Shipping Tanker (Dalian) Co., operates 26 supertankers capable of hauling a combined 52 million barrels of oil, according to data from Clarkson Research Services Ltd. Its parent company is not affected by the sanctions, the U.S. Treasury said.China opposes the penalties against its companies and citizens and has consistently disagreed with the U.S. imposing unilateral sanctions, Geng Shuang, a foreign ministry spokesman, said at a media briefing.“Western charterers may avoid all those COSCO VLCCs, but China Inc. is still the largest importer of crude oil, so domestically alone there could be usage of those vessels,” said Jon Chappell, an analyst at Evercore ISI in New York. “Longer term it’s hard to see how it has a sustainable impact unless the ships are banned from global trading.”(Updates with Gulf Coast-Asia freight cost in second paragraph.)\--With assistance from Serene Cheong, Sharon Cho, Dan Murtaugh, Rachel Graham and Lucia Kassai.To contact the reporters on this story: Alaric Nightingale in London at anightingal1@bloomberg.net;Firat Kayakiran in London at fkayakiran@bloomberg.netTo contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net, Stuart Wallace, John DeaneFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Oil Traders Rattled by U.S. Sanctions on China Tanker Firms
    Bloomberg

    Oil Traders Rattled by U.S. Sanctions on China Tanker Firms

    (Bloomberg) -- Global oil shipping was thrown into disarray after the U.S. imposed penalties on a handful of Chinese tanker firms for continuing to carry Iranian crude after sanctions waivers lapsed in May.Four shipping companies including a unit of COSCO Shipping Corp. were charged with knowingly violating restrictions on handling and transacting Iranian petroleum, with additional sanctions placed against executives and two other companies that control the firms, according to statements from the U.S. Treasury and State Departments.Oil traders in Asia scrambled to respond, canceling bookings with sanctioned entities and letting provisional charters lapse as they attempted to avoid being drawn into the stand-off between Washington and Tehran. The penalties bar U.S. citizens and companies from dealing with the firms, effectively blocking them from American banks at the heart of the global financial system.The White House’s announcement also raised uncertainty among shippers on whether cargoes that have already been loaded onto the vessels of sanctioned firms would be allowed to deliver, or whether they would have to transfer their loads to unsanctioned tankers.“The sanctions this time are more direct and will have an immediate effect on anyone chartering sanctioned tonnage,” said John Driscoll, chief strategist at JTD Energy Service Pte. “These latest moves are likely to add more inconvenience and result in higher costs. Anyone time-chartering tonnage from a sanctioned owner better have a Plan B.”Trade-War ImpactThe sanctions could also complicate talks to end the U.S.-China trade war, which are set to resume in Washington next month. China, the world’s largest crude buyer, continues to import relatively small amounts of oil and petroleum products from Iran despite the White House blocking such purchases in May.“This is one of the largest sanctions actions the United States has taken against entities and individuals identified as transporting Iranian oil since our sanctions were re-imposed in November 2018,” Secretary of State Michael Pompeo said in a statement.China firmly opposes the penalties against its companies and citizens, and has consistently disagreed with U.S. implementation of unilateral sanctions, foreign ministry spokesman Geng Shuang said at a media briefing.“The U.S. disregards the legitimate rights and interests of all parties and arbitrarily wields the stick of sanctions,” he said. “It is a gross violation of the basic norms of international relations.”China Concord Petroleum Co., Kunlun Shipping Co., Pegasus 88 Ltd., and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. have been charged with knowingly violating restrictions on handling and transacting Iranian petroleum. Additional restrictions were also imposed on five executives at the companies, as well as Kunlun Holding Co. and COSCO Shipping Tanker (Dalian) Co., which own or control one or more of the sanctioned entities.The COSCO Dalian entity is 100% owned by COSCO Shipping Energy Transportation Co., which is a subsidiary of COSCO Shipping, the world’s second-largest shipping company by container fleet size, according to Bloomberg Intelligence. COSCO Dalian owns or operates anywhere from about 20 to 50 petroleum tankers worldwide, according to estimates from industry sources. Vessel ownership can be an opaque corner of the global shipping market.The parents and other subsidiaries of COSCO Dalian are not affected by the sanctions, the Treasury Department said. COSCO Shipping Energy halted trading in Hong Kong on Thursday after the announcement.The companies did not immediately respond or declined to comment.Canceled BookingsSeveral oil tankers owned by the COSCO Dalian unit had their bookings canceled, while others saw provisional charters fall through, according to shipbrokers and charterers who asked not to be identified as they aren’t authorized to speak to the media.The sanctions are aimed at denying the Iranian regime critical income to engage in foreign conflicts, advance its ballistic missile development, and fund terrorism around the world, Pompeo said. These penalties are due to the transport of Iranian crude oil, and the U.S. is similarly concerned about the export of Iranian refined petroleum products, he said.China imported 788,000 tons of crude from Iran in August, Chinese customs data show. That compares with a monthly average of 2.4 million tons last year.This isn’t the first time Kunlun Holding and Kunlun Shipping have been involved with Iran-related transactions. Last month, the companies were linked to several seized tankers in Singapore, after a bank sought to take over the vessels due to suspicion that their owners appeared to breach U.S. sanctions, leading to a loan default.In July, the U.S. sanctioned Chinese state oil trader Zhuhai Zhenrong Co., a secretive company with links to the Chinese military. The company has a history of taking Iranian crude and fuel, at times as part of barter deals for goods or services, and then selling it on to refiners in China.(Adds China foreign ministry response from 8th paragraph.)\--With assistance from Feifei Shen, Ramsey Al-Rikabi, Ben Livesey and Dandan Li.To contact the reporters on this story: Serene Cheong in Singapore at scheong20@bloomberg.net;Sharon Cho in Singapore at ccho28@bloomberg.net;Dan Murtaugh in Singapore at dmurtaugh@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Andrew Janes, Jason RogersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Imagine Owning COSCO SHIPPING Ports (HKG:1199) And Wondering If The 39% Share Price Slide Is Justified
    Simply Wall St.

    Imagine Owning COSCO SHIPPING Ports (HKG:1199) And Wondering If The 39% Share Price Slide Is Justified

    In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...

  • Thomson Reuters StreetEvents

    Edited Transcript of 1199.HK earnings conference call or presentation 29-Aug-19 11:30am GMT

    Half Year 2019 COSCO SHIPPING Ports Ltd Earnings Call

  • Benzinga

    COSCO Ports Overseas Assets Push First-Half Results Higher

    COSCO Shipping Ports (HKEX: 1199)  reported higher revenue and volumes for the first half of the year. But the spin-off of a stake in one of its port assets and changes in accounting standards meant overall ...

  • Here's Why COSCO SHIPPING Ports (HKG:1199) Has A Meaningful Debt Burden
    Simply Wall St.

    Here's Why COSCO SHIPPING Ports (HKG:1199) Has A Meaningful Debt Burden

    Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

  • Are Investors Undervaluing COSCO SHIPPING Ports Limited (HKG:1199) By 39%?
    Simply Wall St.

    Are Investors Undervaluing COSCO SHIPPING Ports Limited (HKG:1199) By 39%?

    In this article we are going to estimate the intrinsic value of COSCO SHIPPING Ports Limited (HKG:1199) by taking the...

  • Is COSCO SHIPPING Ports Limited's (HKG:1199) CEO Paid At A Competitive Rate?
    Simply Wall St.

    Is COSCO SHIPPING Ports Limited's (HKG:1199) CEO Paid At A Competitive Rate?

    In 2016 Wei Zhang was appointed CEO of COSCO SHIPPING Ports Limited (HKG:1199). This analysis aims first to contrast...

  • Why COSCO SHIPPING Ports Limited's (HKG:1199) High P/E Ratio Isn't Necessarily A Bad Thing
    Simply Wall St.

    Why COSCO SHIPPING Ports Limited's (HKG:1199) High P/E Ratio Isn't Necessarily A Bad Thing

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Benzinga

    Port Report: Cosco Ports Reports Good Volumes Out Of China, But Overseas Bets Better

    World's largest operator of marine terminals saw first quarter throughput at its non-China-based assets grow faster than China-based ones. Cosco Shipping Ports reported a 28 percent drop in first quarter net income due to a one-off charge from the public share offering of one of its China terminal operations. The world's largest operator of marine terminals said volumes at its Chinese terminals registered decent growth, but overseas operations were the standout with much stronger growth.

  • Reuters

    Peru's Volcan says COSCO SHIPPING set for $3 bln port construction deal

    China's COSCO SHIPPING Ports Ltd is set to sign a $3 billion deal with Peru's Volcan Compania Minera to invest in the port of Chancay on the South American country's Pacific coast next month, Volcan chairman said on Friday. COSCO SHIPPING Chairman Xu Lirong will attend a signing ceremony for the deal mid-May at the Presidential Palace in Lima, Volcan Chairman Jose Picasso Salinas told Reuters on the sidelines of China's Belt and Road Forum in Beijing.

  • COSCO SHIPPING Ports Limited (HKG:1199): Time For A Financial Health Check
    Simply Wall St.

    COSCO SHIPPING Ports Limited (HKG:1199): Time For A Financial Health Check

    Investors are always looking for growth in small-cap stocks like COSCO SHIPPING Ports Limited (HKG:1199), with a market cap of HK$27b. However, an important fact which most ignore is: how financially healthy is the business...

  • Reuters

    BRIEF-COSCO Shipping Ports Posts Qtrly Profit Attributable Of $49.9 Mln

    April 25 (Reuters) - COSCO SHIPPING Ports Ltd: * QTRLY PROFIT ATTRIBUTABLE $49.9 MILLION VERSUS $69.2 MILLION * QTRLY REVENUE $247.7 MILLION VERSUS $237.9 MILLION * QTRLY TOTAL THROUGHPUT INCREASED BY ...

  • Reuters

    BRIEF-Cosco Shipping Ports Says Huang Xiaowen Resigned As A Non-Executive Director And Chairman

    April 25 (Reuters) - COSCO SHIPPING Ports Ltd: * HUANG XIAOWEN RESIGNED AS A NON-EXECUTIVE DIRECTOR AND CHAIRMAN * ZHANG WEI RE-DESIGNATED FROM THE VICE CHAIRMAN TO THE CHAIRMAN OF THE BOARD Source text ...

  • Reuters

    BRIEF-Cosco Shipping Ports Says Fang Meng Resigns As Executive Director, Deputy MD

    April 25 (Reuters) - COSCO SHIPPING Ports Ltd: * FANG MENG RESIGNS AS AN EXECUTIVE DIRECTOR, A DEPUTY MANAGING DIRECTOR * ZHANG WEI RE-DESIGNATED FROM VICE CHAIRMAN OF BOARD TO CHAIRMAN Source text for ...

  • Should COSCO SHIPPING Ports Limited’s (HKG:1199) Weak Investment Returns Worry You?
    Simply Wall St.

    Should COSCO SHIPPING Ports Limited’s (HKG:1199) Weak Investment Returns Worry You?

    Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Today we are going to look at COSCO SHIPPING Ports Limited (HKG:1199) to see whether it might be an attractive investment prosp...

  • Benzinga

    Cosco Shipping Ports To Build Logistics Park At Guangzhou Mega-Port

    Ports operator Cosco Shipping Ports (CSP) (HKEX: 1199) has agreed to build a 254,000-square meter (2,690,978-square feet) logistics park in the city-agglomeration of Guangzhou, which has a regional population of at least 64 million people. Guangzhou is one of the world's busiest box ports with a throughput in 2018 of 21.92 million twenty-foot container equivalents (TEU). CSP has signed its investment agreement with the Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau, which is a regional economic development agency.

  • Reuters

    BRIEF-COSCO Shipping Ports Posts FY Profit Attributable Of $324.6 Mln

    March 28 (Reuters) - COSCO SHIPPING Ports Ltd: * FY REVENUE US$1,000.4 MILLION VERSUS US$634.7 MILLION * FY PROFIT ATTRIBUTABLE $324.6 MILLION VERSUS $512.5 MILLION * RECOMMENDED PAYMENT OF A FINAL DIVIDEND ...

  • Do Directors Own COSCO SHIPPING Ports Limited (HKG:1199) Shares?
    Simply Wall St.

    Do Directors Own COSCO SHIPPING Ports Limited (HKG:1199) Shares?

    Every investor in COSCO SHIPPING Ports Limited (HKG:1199) should be aware of the most powerful shareholder groups. Insiders often own a large chunk of younger, smaller, companies while huge companiesRead More...

  • Bloomberg

    China Finds a G-7 Ally for Belt and Road

    In the 13th century, Marco Polo, a Venetian merchant and explorer, was the first European to leave a detailed chronicle of his experience in the Far East. For centuries, precious fabrics traveled on the Silk Road from China to the Italian cities of Venice and Lucca, where they were transformed into luxury garments. The project, which President Xi Jinping first launched in 2013, already includes a few European countries such as Portugal, Greece and Hungary. But it has attracted hostility in the EU and U.S., which naturally enough fear it is an instrument for expanding China’s influence.

  • Should COSCO SHIPPING Ports Limited (HKG:1199) Be Part Of Your Portfolio?
    Simply Wall St.

    Should COSCO SHIPPING Ports Limited (HKG:1199) Be Part Of Your Portfolio?

    Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! Dividends play an important role in compounding returns in theRead More...

  • Reuters

    BRIEF-Cosco Shipping Ports Unit To Subscribe 60 Pct Of Shares In TPCH

    Jan 23 (Reuters) - COSCO SHIPPING Ports Ltd: * COSCO SHIPPING PORTS LTD - UNIT TO SUBSCRIBE 60 PERCENT OF SHARES IN PERU'S TPCH FOR SUBSCRIPTION PRICE OF US$225 MILLION Source text for Eikon: Further company ...