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.

A container ship.
13 Nov 2018
In addition to survey responses, the Jones Walker study offered several cyber-defense recommendations.
JNPT Bharat Mumbai Container Terminals credit PSA India
11 Nov 2018
Cosco will shift its intra-Asia CI-1 (mainland China-India) service from APM Terminals’ Gateway Terminals India (GTI) to PSA’s new Bharat Mumbai Container Terminals, with a major revamp.
06 Nov 2018
A report on the status of instant quotes in container shipping.
Cargo and blockchain technology.
06 Nov 2018
The new consortium, powered by Oracle Cloud Blockchain Service, involves CMA CGM, Cosco Shipping (and subsidiary brand OOCL), Evergreen Marine, and Yang Ming, and the lines represent about one-third of total global container ship capacity.
A Cosco ship.
01 Nov 2018
Not even the revenue and volume from the acquisition of OOIL, one of the better managed global carriers, and $162 million in government subsidies Cosco Shipping Holdings received between January and September, could prevent its net earnings falling by 68 percent.
OOCL
29 Oct 2018
One example: although Orient Overseas gave no profit and loss numbers in its interim updates, the debilitating effects of rising operating costs and weak freight rates are clearly visible in the average revenue earned per container.
A Cosco ship.
30 Jul 2018
Cosco Shipping Lines was able to contain the damage from last week’s cyber attack to its operations in the Americas, and cargo handling in the United States, Canada, and South America at its marine terminals was largely unaffected because Cosco isolated its internal networks across its global operations.
Port of New York and New Jersey container ship.
27 Jul 2018
Although trade tensions between the United States and the European Union and their impact have been muted so far in 2018, trade stakeholders know that could change dramatically and quickly.
A Cosco container ship.
25 Jul 2018
As Cosco continues to guide its customers through email transmissions for the booking of cargo, there was good news on Wednesday.
A Cosco ship.
24 Jul 2018
Since Cosco’s overseas operations have not been affected, communication with US offices is able to take place, although at a slower pace, a key Cosco official said Tuesday.
APM Terminals Pipavav.
02 Jul 2018
Two other Pipavav changes are likely to help speed cargo, terminal officials said.
Cosco Rotterdam.
02 Apr 2018
Cosco Shipping Holdings, China's largest shipping company, has continued to aggressively expand into landside logistics, building on Beijing’s Belt and Road strategy to grow its terminal and inland footprint in Asia and Europe.
Port of Oakland.
29 Mar 2018
After six years of losses, the container shipping industry ended 2017 with a profit of about $7 billion. Financial reports of the 13 carriers do show improvement but do not yet reflect a full recovery — a recovery that should continue in 2018, given the strengthening global economy, unless political issues intervene.
A Cosco container ship.
15 Feb 2018
Based on carrier statistics compiled by PIERS, a JOC.com sister company, if the container volumes compiled last year by the China-based carriers were combined, Cosco and OOCL would have ranked fourth among all lines in the US trades in overall container volume and first in imports.
Cosco container ship
30 Jan 2018
Cosco is heading for a solid 2017 profit, turning around a $1.4 billion loss, with Beijing subsidies lending a helping hand.
23 Jan 2018
In 2017 terminal operators CMPort and Cosco demonstrated the capability to pay a premium for port assets — backed by Chinese banks offering Belt and Road project development loans.
Container shipping capacity is something shippers pay close attention to as the supply-demand balance has a direct impact on freight rate levels.
10 Jan 2018
As capacity floods into service, some carriers have started to delay the delivery of new mega-ships.
06 Dec 2017
The Cosco-OOIL deal took another giant step towards becoming the world's largest carrier in total liftings when it received approval for the takeover from the European Commission.
30 Oct 2017
The proceeds of a share sale will be used by Cosco Shipping to fund the construction of 20 new container ships, 11 of them in excess of 20,000 TEU.
11 Oct 2017
The positive forecast from Cosco highlights the continued strength of the market.
21 Sep 2017
Terminal operator DP World is nearing completion on a $200 million upgrade to its Fairview Container Terminal at Prince Rupert, but remaining construction to landside infrastructure has roiled port productivity.
25 Jul 2017
Shares of Cosco Shipping have finally begun trading again in Shanghai after being suspended since May.
10 Jul 2017
“There aren’t many other takeover candidates left on the shelf.”
10 Jul 2017
A combined Cosco-OOCL carrier will further reduce the options for shippers that have been cut drastically by a wave of consolidation in the past year.
An OOCL ship.
09 Jul 2017
The deal maintains the Hong Kong carrier’s brand and marks a new chapter in the ongoing industry consolidation.
06 Jul 2017
Better freight rates and strongly growing volume will see Cosco Shipping posting a solid profit in the first half.
21 Jun 2017
Rumors surrounding a Cosco-OOCL tie-up refuse to go away.
12 Jun 2017
The $228 million deal comes in the wake of similar deals in Europe, Asia, and the Middle East — including the purchase of Rotterdam’s Euromax Terminal and a majority stake in Greece's largest port, Piraeus.
02 Jun 2017
China's largest carrier, Cosco Shipping, continues to give only the vaguest of reasons for its suspension of share trading on the Shanghai exchange.
18 May 2017
Roughly $4.6 billion is needed at East and Gulf coast ports to remedy pinch points in harbor infrastructure.
29 Apr 2017
Cosco's container shipping line is the latest carrier to report improving volume and revenue in the first quarter.
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.