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.
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.
28 Mar 2014
The two largest Chinese container lines have more reason to work together after they both continued to suffer from overcapacity and lackluster demand in the container shipping industry in 2013.
REX3/RES2/ARC2 port rotation
24 Mar 2014
CMA CGM, China Shipping Container Lines and United Arab Shipping Co. will launch a new jointly operated, fixed-day weekly service...
Ocean carrier rate revision roundup for March 21
21 Mar 2014
Several container lines have scheduled rate hikes in multiple trade lanes from April to May, although any increases achieved could be temporary...
Port of Hong Kong
13 Mar 2014
The Port of Hong Kong got a much needed boost in its capacity to handle container mega-ships...
Port of Shanghai
12 Mar 2014
Carriers’ schedule reliability from Shanghai to Oakland, Calif., showed the greatest variation in eastbound Asia-to-Southern California route performances...
From left: Adam D. Hall, Dollar General; Klaus Schnede, Eastman Chemical.
04 Mar 2014
It is possible to think up all kinds of scary scenarios that could play out as container lines form new vessel-sharing alliances or expand existing alliances, but the primary goal of carriers is to deploy the largest ships at their disposal in order to reduce their per-unit costs.
Standing: Peter Leach, JOC. Seated, left to right: William Payne, NYK Line; Mike White, Maersk Line; Wolfgang Freese, Hapag-Lloyd; Gene Seroka, APL; Howard Finkel, Cosco North America.
03 Mar 2014
Vessel capacity is exaggerated but container ship lines continue to struggle to raise rates to cover costs and meet service demands, carrier executives told the JOC’s 14th annual TPM conference.
Ocean Carrier Rate Revision Roundup for Feb. 28
28 Feb 2014
Multiple container lines hope to increase rates in a variety of trade lanes from March through June, although any hikes achieved could be fleeting...
18 Feb 2014
Not a great deal is known yet about the “Strategic Cooperation Framework Agreement” signed this week by COSCO and China Shipping. But the very fact an agreement of any kind was publicly unveiled in Beijing (at the COSCO headquarters), shows how times have changed in China and worldwide.
18 Feb 2014
Evergreen Line has confirmed that it is in negotiations with the CKYH Alliance to form a new alliance...