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.

01 Dec 2015
Talks between state-owned giants Cosco and China Shipping will continue into the new year, the groups said in exchange filings, six months after trading in shares of their listed subsidiaries was suspended.
23 Nov 2015
The government of Greece has again extended the bidding process for the sale of the port in Piraeus — the country’s largest — this time at the request of the potential purchasers.
11 Nov 2015
Minority shareholders not controlled by Beijing may be the biggest problem faced by attempts to merge Cosco and China Shipping Container Lines believes investment equity firm Jefferies.
06 Nov 2015
A U.S. Federal Maritime Commissioner said he was told earlier this week by representatives of China Shipping Container Lines and Cosco that the container lines are in the early stages of a merger.
02 Nov 2015
China’s nine major listed container terminal operators will be more profitable in 2016 with a majority booking high single or double-digit growth in net profit when compared with 2015, according to a valuation report issued by Citi Asia Pacific.
29 Oct 2015
China Cosco posted a $270 million net loss in the third quarter as revenue for the three months crashed almost 20 percent year-over-year.
18 Oct 2015
Charter rates are dropping fast for post-Panamax ships because of low demand, with rates for some midsize vessels dropping to 2013 levels.
15 Oct 2015
China’s two largest shipping lines continue to tease the market with cryptic filings to the Shanghai and Hong Kong stock exchanges and an extension of the trading halt that has been placed on shares since August.
10 Sep 2015
Cosco, China's largest shipping company, Wednesday ramped up its mega-ship ambitions by placing a $1.5 billion order for eleven 19,000 twenty-foot-equivalent unit container vessels, expanding its ultra-large containership orderbook from 11 to 20.
25 Aug 2015
Cosco Pacific is expecting a volatile second half of the year amid fierce competition in the container terminals and leasing business and has warned that the challenging operating environment will slow its throughput.
21 Aug 2015
The expected merger of China Shipping and Cosco speaks not just to the increased pressure on container lines — even state-owned ones — to become profitable, but also the political and economic changes rippling through China.
12 Aug 2015
The potential merger of China Shipping and Cosco would make the newly formed Chinese carrier the top player in shipping laden containers from Asia to the United States, according to an analysis of PIERS data.