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.

Ocean carrier rate revision roundup for Oct. 17
17 Oct 2014
Multiple container lines have planned general rate increases in numerous trade lanes in October and November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
30 Sep 2014
Nearly $300 million in subsidies were given to four Chinese ship lines today, as the Chinese government begins to roll out parts of a six-year plan to update its shipping industry.
Ocean carrier rate revision roundup for Sept. 26
26 Sep 2014
Multiple container lines have planned general rate increases in numerous trade lanes in October, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
17 Sep 2014
China Cosco Holdings will splash out $618 million on five 14,500-TEU vessels that will be built by CSSC’s Jiangnan Changxing Shipbuilding yard as the mainland’s largest carrier continues to upgrade its fleet in an attempt to arrest declining profitability.
Ocean carrier rate revision roundup for Sept. 12
12 Sep 2014
Multiple container lines have planned general rate increases in numerous trade lanes in September and October...
03 Sep 2014
A new five-year plan aimed at developing China’s shipping industry could help Chinese container lines and ports become more competitive.
Cosco Philippines
31 Aug 2014
Cosco Container Lines (Cosco) is placing an order for five 14,000-TEU vessels as it continues with an aggressive tonnage scrapping programme to revitalise both its fleet and its flagging profits.
Ocean carrier rate revision roundup for Aug. 29
29 Aug 2014
Several container lines have planned general rate increases in trade lanes in the next two months, but any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
Cosco Indian Ocean at Felixstowe
28 Aug 2014
China Cosco Holdings saw its first-half losses soar to $338 million as a difficult shipping environment and the disposal of vessels dragged its year-over-year net profit down by 130 percent, despite solid growth in container volumes.
Asian Gypsy Moth
26 Aug 2014
Tiny, dirt-like egg clusters are waylaying cargo at ports in the United States, delaying thousands of containers for days at a time.
Asian gypsy moth caterpillar
22 Aug 2014
At least two ships have been quarantined and all others coming from Asia to the United States will be heavily scrutinized as officials attempt to block an invasive species from making landfall in the U.S.
Ocean carrier rate revision roundup for Aug. 22
22 Aug 2014
Multiple container lines have planned general rate increases in numerous trade lanes in the coming months, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.