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.

Ocean carrier rate revision roundup for Sept. 12
12 Sep 2014
Multiple container lines have planned general rate increases in numerous trade lanes in September and October...
18 Jun 2014
At the end of this month, four ocean carriers will launch a new joint service connecting China, Southeast Asia and the Indian subcontinent.
17 Jun 2014
The rejection of the P3 shows how dominant the world’s largest carriers were set to become if their proposed mega-alliance took effect.
Ocean Carrier Rate Revision Roundup for June 13
13 Jun 2014
Multiple container lines have planned general rate increases in various trade routes to take effect in July...
Ocean Carrier Rate Revision Roundup for May 30
30 May 2014
Multiple container lines have planned general rate increases in various trade routes in June and July, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
Ocean Carrier Rate Revision Roundup for May 23
23 May 2014
Several carriers have planned general rate increases in multiple trade routes in June and July, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
08 May 2014
MOL Liner, Evergreen Line and Cosco Container Lines plan to launch a direct weekly service from Asia to West Africa in June.
01 May 2014
Greece has received expressions of interest from six companies seeking to bid for a majority stake in the port of Piraeus, its largest container port and an emerging Mediterranean transshipment hub.
27 Apr 2014
China Cosco Holdings scrapped 16 vessels in the first quarter as part of its company restructuring and fleet renewal program.
Ocean Carrier Rate Revision Roundup for April 25
25 Apr 2014
Multiple carriers have scheduled general rate increases in various trade lanes in May, June and July, although any gains achieved could be fleeting as overcapacity and sluggish global demand continues.
Container ship in Hamburg, Germany.
08 Apr 2014
The 2013 financial reporting season for container lines ended for many carriers in a sea of red ink as high bunker prices and weak freight rates combined to drag down profits.
Ocean Carrier Rate Revision Roundup for March 28
28 Mar 2014
Multiple carriers have planned rate increases in various trade lanes in April and May, although any gains achieved could be fleeting as overcapacity and lackluster global demand continues.