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.

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.
18 Feb 2016
China Cosco Shipping Corporation was officially launched in Shanghai, bringing together the mainland’s two largest carriers and amassing a huge armada of container ships, bulk carriers and tankers that far out strip those of its rivals.
16 Feb 2016
CMA CGM and Cosco are leading efforts to create a new vessel-sharing alliance that could include Evergreen Line and OOCL and would shake up three of the four major east-west carrier groupings, the Alphaliner newsletter reported.
16 Feb 2016
Fifteen leading ocean container carriers, including Maersk Line, Mediterranean Shipping Co. and CMA CGM, have offered to change their practices for setting freight rates to settle an antitrust probe, the European Commission said Tuesday
28 Jan 2016
Cosco Container Lines’ acquisition of China Shipping’s container ship fleet is expected to happen about March 1, Cosco said in a filing with the U.S. Federal Maritime Commission.
20 Jan 2016
Greece’s privatization agency will today weigh an improved offer from China’s Cosco Pacific for a majority stake in the port of Piraeus.
12 Jan 2016
Greece today confirmed Cosco Pacific is the only bidder for a majority stake in the Piraeus Port Authority and immediately asked the Chinese company to submit an improved offer for control of the nation’s largest port.
28 Dec 2015
China’s Ministry of Transport has fined eight international container lines a total of $169,000 for failing to meet the freight rate guidelines set by the ministry.
16 Dec 2015
To mitigate service disruptions caused by potential consolidation, APL, CMA CGM, China Shipping Container Lines and Cosco could elect to participate in more than one major alliance during a transition phase, Federal Maritime Commissioner William Doyle said last week.
16 Dec 2015
Five Asia-based container lines will expand a service in mid-February that connects to Australia, while another China-based line will also beef up its service to and from Oceania.
14 Dec 2015
CMA CGM’s $2.4 billion acquisition of Neptune Orient Lines and the forthcoming merger between state-owned Cosco and China Shipping are unlikely to spur a fresh round of consolidation in container shipping, according to Drewry.
13 Dec 2015
China Shipping Container Lines will exit the container trade under the merged and reorganized China Cosco Shipping Group, a move that raises questions on the carrier’s continued participation in the O3 Alliance it shares with CMA CGM and UASC.