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.

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.
21 Jul 2014
China Shipping has injected $300 million into its wholly owned subsidiary China Shipping Container Lines (CSCL
Ocean carrier rate revision roundup for July 18
18 Jul 2014
Multiple carriers have announced general rate increases on several trade routes to take effect in August.
16 Jul 2014
China Cosco Holdings plans to buy five 14,000-TEU ships to help replenish a fleet that has been aggressively trimmed so far this year with 24 ships heading for the scrap yard.
15 Jul 2014
China Cosco Holdings scrapped another eight vessels in the second quarter, taking to 24 ships disposed of in a fleet renewal program...
Weekly wrap-up for July 12, 2014
12 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association surprised watchers by announcing a 72-hour hiatus in their negotiations so that the union could deal with unrelated talks in the Pacific Northwest, and by extending the expired coastwide contract during the suspension of negotiations.
Ocean carrier rate revision roundup for July 11
11 Jul 2014
Multiple container lines have planned general rate increases in several trade routes to take effect Aug. 1...
A Cosco vessel in Houston
08 Jul 2014
A major restructuring move at Cosco Container Lines Americas will result in most regional offices closing in favor of a larger, more centralized North American Operations Center.
Ocean carrier rate revision roundup for July 4
04 Jul 2014
Several container lines have planned general rate increases in multiple trade routes to take effect Aug. 1...
02 Jul 2014
WASHINGTON — U.S. Federal Maritime Commissioners yesterday unanimously voted to allow CKYH partners and Evergreen Line to discuss cooperating in the trans-Pacific and trans-Atlantic trades.
Ocean carrier rate revision roundup for June 27
27 Jun 2014
Several container lines have planned general rate increases in multiple trade routes to take effect in July, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
24 Jun 2014
The worst is over for the Asia-Europe container trade as slow-steaming and scrapping of old vessels begin to address excess capacity, according to a recent report from HSBC’s transport analysts.