COSCO

Cosco Container Lines is the world’s fifth-largest container shipping company, with 157 vessels with a combined capacity of 668,000 TEUs (20-foot-equivalent units). Founded in 1997, the Shanghai-based ocean carrier is present in more than 48 countries, with 14,031 employees.

Cosco Container Lines, which is a subsidiary of COSCO Group, posted revenues of US$9.97 billion in 2013 — down 14 percent on a year-on-year basis. The company recorded a net profit of $37.6 million, up from the previous year’s net loss of $1.5 billion.

Cosco was the eighth-ranked container carrier in U.S. containerized import trade in 2013, with volume of 938,684 TEUs, up 11.9 percent year-over-year, giving it market share of 5.2 percent. It was No. 11  in U.S. containerized export trade in 2013, with volume of 424,690 TEUs, up 5.8 percent year-over-year and market share of 3.3 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

COSCO, ‘K’ Line, Yang Ming, Hanjin, and Evergreen Line have agreed in principle to an expanded CKYHE Alliance.

29 Jun 2015
Cosco, the largest shipping group in China, is back in the corruption spotlight with the National Audit Office issuing a report that accuses the carrier of serious financial irregularities.
11 Jun 2015
The Port of Prince Rupert had another big month in May with total container volume increasing 45.6 percent over May 2014.
01 Jun 2015
It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets.
22 May 2015
Shipping businesses in China are finally emulating their Western peers by embracing the opportunities and challenges brought by the internet, cloud computing, and big data.
Port of Piraeus, Greece, container port
15 May 2015
The long-stalled privatization of the port of Piraeus is finally underway with three foreign companies bidding for control of the leading Mediterranean transhipment hubs.
14 May 2015
Evergreen Line this month will launch a new intra-Asia service in partnership with Cosco and China Shipping, enhancing the Taiwan carrier’s intra-Asia operations.
14 May 2015
Cosco Container Lines earlier this month launched a bi-weekly service from Yueyang, a city by the Yangtze River in Hunan province, to Vietnam and Thailand, allowing shippers to get their goods delivered a week faster than through past transfer services.
14 May 2015
China Cosco Holdings pushed ahead with its fleet scrapping plan last month by dismantling two container ships and two bulk carriers.
06 May 2015
Greek dock workers are due to stage a 24-hour strike on Thursday to protest the privatization of the ports of Piraeus and Thessaloniki.
04 May 2015
Greece is expected to launch the long delayed privatization of the port of Piraeus, a top 10 European container hub, this week as its leftist government reluctantly undertakes reforms demanded by its international creditors.
Cosco container ship in Port of Oakland
29 Apr 2015
China Cosco Holdings reported a first-quarter loss of $166 million just hours after being forced to make its second unusual trading announcement of the month as rumors that the carrier would be merged with China Shipping Container Lines continued to galvanize the market.
Yang Ming Line container ship
16 Apr 2015
Yang Ming Line, Wan Hai Lines, Pacific International Lines and Cosco Container Lines have jointly kicked off a new container service between the Far East and the Middle East.