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.

25 Jul 2017
Shares of Cosco Shipping have finally begun trading again in Shanghai after being suspended since May.
10 Jul 2017
“There aren’t many other takeover candidates left on the shelf.”
10 Jul 2017
A combined Cosco-OOCL carrier will further reduce the options for shippers that have been cut drastically by a wave of consolidation in the past year.
09 Jul 2017
The deal maintains the Hong Kong carrier’s brand and marks a new chapter in the ongoing industry consolidation
06 Jul 2017
Better freight rates and strongly growing volume will see Cosco Shipping posting a solid profit in the first half.
21 Jun 2017
Rumors surrounding a Cosco-OOCL tie-up refuse to go away.
12 Jun 2017
The $228 million deal comes in the wake of similar deals in Europe, Asia, and the Middle East — including the purchase of Rotterdam’s Euromax Terminal and a majority stake in Greece's largest port, Piraeus.
02 Jun 2017
China's largest carrier, Cosco Shipping, continues to give only the vaguest of reasons for its suspension of share trading on the Shanghai exchange.
18 May 2017
Roughly $4.6 billion is needed at East and Gulf coast ports to remedy pinch points in harbor infrastructure.
29 Apr 2017
Cosco's container shipping line is the latest carrier to report improving volume and revenue in the first quarter.
10 Apr 2017
It has been a rare sight recently, but Cosco Shipping has issued a positive profit alert for the first quarter after seeing increasing volumes and rising rates.
It wasn't hard for shippers to find trans-Pacific capacity after Hanjin Shipping went bankrupt, and it's about to get easier still.
14 Sep 2016
Hanjin Shipping’s collapse has set off a rush by other container lines to add services and “extra loader” voyages.