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 Oct. 17
17 Oct 2014
Multiple container lines have planned general rate increases in numerous trade lanes in October and November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
Container ship
31 Dec 2013
Seventeen of the Top 20 container carriers worldwide are expecting deliveries of new ships in the next 12 months, which could make 2014 a record-breaking year for capacity...
23 Dec 2013
Hanjin Shipping is planning to invite Evergreen Line to join the CKYH Alliance to improve that network’s competitive posture, South Korean news agency Yonhap reports.
16 Dec 2013
Will there be a CKYH-E?
Ocean carrier rate revision roundup
16 Dec 2013
Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in December and January.
26 Nov 2013
SHANGHAI, China — In the latest shake-up of senior management at a Chinese shipping company, Zhao Huxiang, chairman of
Empty containers
25 Nov 2013
The largest ocean carriers sharply increased their market share at the expense of their smaller rivals in the third quarter, according to Drewry Maritime Research.
22 Nov 2013
Major container lines have announced the following rate increases for a variety of trades slated to take effect in December and January.
Container stack
21 Nov 2013
Container shipping lines operating from Asia to the U.S. intend to restore baseline freight rates for late holiday season shipments in December and the pre-Lunar New Year period in January.
15 Nov 2013
Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in November, December and January.
08 Nov 2013
Even as Cosco becomes confident it will achieve a full-year profit and avoid delisting, it was denying reports that former chairman Wei Jiafu was placed under travel restrictions, after one of its top executives resigned under a cloud of investigation.
Cargo containers at the Port of Piraeus
06 Nov 2013
Major merger and acquisition activity in the global transportation and logistics industry was nothing spectacular in the third quarter, but a potential wave of privatization of ports, airports and roadways could energize the market in the coming year.