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.

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.
29 Oct 2015
China Cosco posted a $270 million net loss in the third quarter as revenue for the three months crashed almost 20 percent year-over-year.
18 Oct 2015
Charter rates are dropping fast for post-Panamax ships because of low demand, with rates for some midsize vessels dropping to 2013 levels.
15 Oct 2015
China’s two largest shipping lines continue to tease the market with cryptic filings to the Shanghai and Hong Kong stock exchanges and an extension of the trading halt that has been placed on shares since August.
10 Sep 2015
Cosco, China's largest shipping company, Wednesday ramped up its mega-ship ambitions by placing a $1.5 billion order for eleven 19,000 twenty-foot-equivalent unit container vessels, expanding its ultra-large containership orderbook from 11 to 20.
25 Aug 2015
Cosco Pacific is expecting a volatile second half of the year amid fierce competition in the container terminals and leasing business and has warned that the challenging operating environment will slow its throughput.
21 Aug 2015
The expected merger of China Shipping and Cosco speaks not just to the increased pressure on container lines — even state-owned ones — to become profitable, but also the political and economic changes rippling through China.
12 Aug 2015
Trading of the eight listed units of Cosco and China Shipping on the Shanghai, Shenzhen and Hong Kong Exchanges has been suspended all week in preparation of a joint announcement by the giant state-owned carriers that is widely expected to be news of a merger.
29 Jul 2015
While politicians wrangle over the Greek debt crisis and economists speculate on the lasting impact to the European and global economy, a decision on who controls a container quay miles away from Athens could reshape European supply chains.
15 Jul 2015
Cosco Pacific’s Ningbo container terminal handled almost 20 percent more containers in the first half compared to the same period last year, helping overall throughput at the port just south of rival Shanghai to grow by 9 percent.
29 Jun 2015
Cosco, the largest shipping group in China, is back in the corruption spotlight with the National Audit Office issuing a report that accuses the carrier of serious financial irregularities.
11 Jun 2015
The Port of Prince Rupert had another big month in May with total container volume increasing 45.6 percent over May 2014.