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 Dec 2014
Another set of historic rate increases are on tap for the trans-Pacific, as the 15 members of the Transpacific Stabilization Agreement announced hikes totaling $1,000 per FEU.
TraPac terminal in Jacksonville
06 Feb 2014
After more than five years of inertia in the marine terminal business, the industry is beginning to churn. Some investors who spent billions of dollars in the mid-2000s to buy into container terminals want out, while others see this as a good time to invest in the industry.
Container ship
31 Jan 2014
Container ships arrived at their destination ports across the globe on time 73.7 percent of the time in December 2013...
29 Jan 2014
Member carriers in the Transpacific Stabilization Agreement plan to increase Asia-U.S. rates by $300 per FEU, effective March 15...
Port of Hong Kong
28 Jan 2014
Jefferies expects Asian container lines’ earnings for the fourth quarter of 2013 overall will be in line with or below Bloomberg consensus estimates, as freight rates in Asia-related trade lanes continued to slide and overcapacity remained.
Ocean Carrier Rate Revision Roundup
10 Jan 2014
Major container lines hope to implement rate increases in a variety of trades in January and February, despite signs that any hikes achieved may be fleeting.
Ocean carrier rate revision roundup
31 Dec 2013
Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in January and February.
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...