COSCO

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.

Cosco container ship in Port of Oakland
29 Apr 2015
China Cosco Holdings reported a first-quarter loss of $166 million just hours after being forced to make its second unusual trading announcement of the month as rumors that the carrier would be merged with China Shipping Container Lines continued to galvanize the market.
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.