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.

10 Apr 2017
It has been a rare sight recently, but Cosco Shipping has issued a positive profit alert for the first quarter after seeing increasing volumes and rising rates.
Port of Piraeus, Greece, container port
15 May 2015
The long-stalled privatization of the port of Piraeus is finally underway with three foreign companies bidding for control of the leading Mediterranean transhipment hubs.
14 May 2015
Evergreen Line this month will launch a new intra-Asia service in partnership with Cosco and China Shipping, enhancing the Taiwan carrier’s intra-Asia operations.
14 May 2015
Cosco Container Lines earlier this month launched a bi-weekly service from Yueyang, a city by the Yangtze River in Hunan province, to Vietnam and Thailand, allowing shippers to get their goods delivered a week faster than through past transfer services.
14 May 2015
China Cosco Holdings pushed ahead with its fleet scrapping plan last month by dismantling two container ships and two bulk carriers.
06 May 2015
Greek dock workers are due to stage a 24-hour strike on Thursday to protest the privatization of the ports of Piraeus and Thessaloniki.
04 May 2015
Greece is expected to launch the long delayed privatization of the port of Piraeus, a top 10 European container hub, this week as its leftist government reluctantly undertakes reforms demanded by its international creditors.