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.

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.
Cosco Pacific bought a stake in the Euromax Terminal Rotterdam, pictured, earlier in the year as it continues to expand globally with a particular focus on Europe.
19 Aug 2016
Cosco Shipping Ports appears to be bucking the trend of poor throughput growth reported by major terminal operators so far this year.
The merger of Cosco and China Shipping Container Lines hasn't been without its issues, but the widespread disruption seen in other mergers has not taken place.
11 Aug 2016
Although mergers typically lead to disruption and irate shippers, that has not been the case in the recent merger of Cosco and China Shipping Container Lines.
10 Aug 2016
The Chinese conglomerate will pay an additional 88 million euros for the extra 16 percent stake in Greece’s largest port.
News that the recently merged China Cosco Shipping would honor existing contracts until the Ocean Alliance takes effect follow industry rumors of mass shipper desertions from the company's constituent carriers, Cosco Container Lines and China Shipping Container Lines
19 Jul 2016
China Cosco Shipping says all its shipper contracts are safe until the new Ocean Alliance kicks off next year.
27 Jun 2016
Cosco Shipping Panama on Sunday made the first commercial transit of the Panama Canal’s new locks.
18 May 2016
Cosco Executive Vice President Howard Finkel and JOC Senior Content Editor Alessandra Barrett discuss Cosco’s merger with China Shipping Container Lines, freight rate trends, and the biggest operational change that came out of the West Coast labor strife of 2014 and 2015.
12 May 2016
Five non-vessel-operating common carriers and forwarders have paid the U.S. Federal Maritime Commission to settle allegations they misrepresented cargo to carriers.
08 Apr 2016
The Greek government today officially sold the country’s largest port, Piraeus, to China’s Cosco Group, prompting striking dockers to stage a protest march through downtown Athens.
31 Mar 2016
The last financial results for Cosco and China Shipping Container Lines as independent companies highlights the financial difficulties that have forced their merger into China Cosco Shipping.
28 Mar 2016
In the nearly nine years since the Oct. 31, 2007, inauguration of container shipping services through Prince Rupert, British Columbia, Cosco has been the dominant carrier to the port that offers the fastest transit from Asia to the U.S. Midwest.
09 Mar 2016
The CKYHE Alliance is reorganizing its service network for Asia-Europe and Asia-Mediterranean trades as the carriers try to counter the weak demand and excess capacity that is plaguing the route and dragging down freight rates.