BRIEF: Cosco Shipping’s first-quarter profit rises 7%
Cosco Shipping Development Co. Ltd. (2866.HK) on Wednesday reported a profit of 480 million yuan ($65 million) for the first quarter, up 7.4% from the same period last year. Excluding…
BRIEF: Intercont shares fall in first two trading days after U.S. IPO
Shares of shipping company Intercont (Cayman) Ltd. (NCT.US) sagged in their first two trading days, after the company raised $10.5 million in gross proceeds through the sale of 1.5 million…
BRIEF: T.S. Lines to raise up to HK$1.1 billion in Hong Kong IPO
Container ship operatorT.S. Lines Ltd. (2510.HK) launched its IPO on Wednesday, seeking to raise up to HK$1.13 billion by issuing nearly 251 million shares at a price of HK$3.50 to…
Intercont sees green in the ocean with ‘Recycling at Sea’ plan
The bulk shipper plans to use funds from a proposed U.S. IPO to retool a new fleet of ships to recycle paper pulp at sea Key Takeaways: Hong Kong-based Intercont…
INDUSTRY BRIEF: China shipping rates plummet from recent highs
Freight charges for shipping products from China have tumbled from highs in July, as demand for Chinese exports slows, Caixin reported on Wednesday. The benchmark rate for shipments to North…
NEWS WRAP: Full Truck Alliance drives ahead with Covid controls in the rear-view mirror
The trucking app operator reported its revenue rose 23.5% in the second quarter, and forecast a slight deceleration in the growth rate in the current quarter By Teri Yu…
Full Truck Alliance Shifts Up a Gear on Regulatory Easing Reports
Trucking app operator’s shares have surged 32% over the last two trading days, even as it forecast Omicron disruptions could cause its business to contract in the second quarter Key…
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