PSA COSCO

 
PSA Int'l also gov't owned, and has US port operations

PSA, Cosco Pacific, AP Moller in Dalian port project

P&O sale threatens foreign monopoly over UK ports:Singapore-China alliance stands to gain 90% control

Ambassador Zhang Welcome "COSCO-Singapore" at its Maiden Voyage Ceremony -- 2004/10/18

"The Chinese Government and people attach great importance to the friendly cooperation with Singapore and are fully confident of its prospect. Our bilateral relations will step onto a new level, so will the partnership between COSCO and PSA".

Cosco bucks the trend

Unlike other lines, Cosco does not appear tempted to move from the PSA to neighbouring Tanjong Pelepas. Last October it signed a 10-year Virtual Terminal Agreement with the PSA, giving the line priority berthing and long-term price stability based on agreed volumes. Last year Cosco moved some 250,000 TEUs through the PSA with its 20 weekly calls.

Ji confirmed that there are close ties between Cosco and the Singapore government, though he would not rule out anything that might happen in the future.

"We have agreed rate schedules and PSA are our partners," he said. "Cosco is very satisfied with their performance. We have to consider all factors when choosing a terminal, including networks, as we have to consider the interests of shippers and consignees as well. At the present time we have no intention to move business to any other terminals."

COSCO -- in a nutshell

It makes perfect sense for shipping companies to be interested in controlling terminals.

And, since this is the information age, no one needs a crystal ball to see that this is what the Chinese government is attempting to accomplish through the business dealings and partnerships of its government shipping company COSCO.

One only needs to 1) read their web pages and other business news pages and 2) apply good old common sense.

COSCO's plans, mergers, pending deals, (and even their failures) all point in one direction--they want to get into the port/terminal business

COSCO'S failures to get some mouthwatering deals don't mean COSCO wasn't interested in managing prime locations along coasts. Clinton's failure to give COSCO a lease on the old Navy Base in Long Beach, CA, doesn't mean the Chinese government wasn't interest in getting their hands on it. The fact that their deal to get a Greek port isn't finalized, doesn't mean they don't want the port.

. The grandstanding folks in Congress, who are so concerned about port safety, didn't need a crystal ball to see that the UAE was interested in buying P&O either. If they are all that stupid, especially the folks on the Homeland Security-related committees, they don't deserve to represent us.

Links to Clinton, COSCO, Chinese shipping articles

These are merely leads for anyone who cares to find out why the UAE is maligned, when the Chinese were given such preferential treatment.

*Red China: Gatekeeper of the Panama Canal

*CLINTON OK'S CHINESE ASSAULT WEAPONS FOR U.S. DELIVERY

*The U.S. government agreed to exempt COSCO from laws discriminating against state-owned shipping companies.

*COSCO interested to buy stake in Greek port

*Shipping giant COSCO sets sail for big time [April 09, 2005]
...COSTACO, the country's largest shipping tally company, has become a subsidiary of COSCO, the world's second largest shipping company in terms of capacity.
COSTACO's business ranges from cargo measuring and weighing bulk cargo to supervising loading and unloading operations.

Skeeves-dropping

There's a lib with a miniscule mind
Who will tell us that we should be blind
And not ask smart hackers
To track our attackers.
I don't want advice from his kind.

Major news topics for this week:

1) Mohammed Abombhead
2) Skeeves-dropping