COSCO SHIP INTL (00517) rose nearly 3%, reaching HK$6.35 by the time of writing, with a trading volume of HK$13.97 million. The uptick follows news that COSCO SHIPPING Bulk Carrier successfully secured the SIMFER Transshipment Vessel (TSV) management contract for Guinea's Simandou project.

The contract involves the technical and crew management, on-site operations, and local team development for five of the world's most advanced self-unloading transshipment vessels. These vessels form a critical component of the logistics chain for exporting iron ore from the Simandou mine.

Since the project's initiation, COSCO SHIPPING Bulk Carrier assembled a dedicated team to swiftly address bidding, technical negotiations, and contract discussions. Their high-level expertise and precise understanding of client needs enabled them to outcompete multiple specialized TSV operators and leading global ship management firms.

This contract marks another milestone in the company's commitment to the Belt and Road Initiative, reinforcing its role in securing critical mineral resources. It also represents a strategic step toward enhancing iron ore supply chain security and expanding its footprint in Africa.