US exporters of refrigerated (reefer) cargo are facing costly delays in China and equipment shortages in the United States due to extended factory closures and limitations on worker movement caused by the coronavirus outbreak.
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COSCO Shipping
COSCO Shipping
COSCO Shipping Corporation, established in 2016 through a merger of COSCO and the China Shipping Group, operates one of the world’s largest container fleets, with a total capacity of almost 3 million TEUs, as well as large fleets for transporting dry bulk, general, and specialized cargo. COSCO also operates over 50 container terminals worldwide with world-leading throughput of more than 110 million TEUs, as well as one of the world’s largest container-leasing businesses.
A leading provider of offshore engineering and vessel agency services, COSCO’s strategic multifaceted vision is to become a leader not just in shipping, but logistics, finance (including ship leasing, shipping insurance, and supply chain finance); equipment manufacturing, and other related services.
Webcasts
Feb 20, 2020 11:00AM EST
Jan 28, 2020 2:00PM EST
Jan 23, 2020 2:00PM EST
Press Releases
24 Jan 2020
The US-China trade war pulled down OOCL’s performance in the trans-Pacific, but volume and revenue growth in other trades kept its overall operational result in positive territory.
22 Jan 2020
It has been a good year for Cosco Shipping, with seemingly no ill effects from the US-China trade war or slowing economies around the world.
12 Dec 2019
Cosco has added a new container terminal to its expanding European portfolio in a JV with APM Terminals.
14 Oct 2019
Bangladeshi shippers are relieved after the local customs agent that handles Cosco Shipping’s business in the country had its license reinstated.
08 Oct 2019
In his keynote address at the JOC TPM Asia Conference in Shenzhen, Cosco's Wang Haimin said US tariffs are accelerating the shift of production of furniture, tires, machinery, and footwear from China to Southeast Asia.
30 Sep 2019
The Chittagong Customs House has suspended the license of Continental Traders, the local agent of COSCO Shipping, a move that could cause significant disruptions to the Chinese state-run container carrier’s operations in Bangladesh.
27 Sep 2019
Sponsored: Trucking capacity and rate fluctuations are major concerns for shippers. Cosco Shipping’s Executive Vice President Howard Finkel frankly addresses the issues in this JOC interview.
16 Sep 2019
Container carriers in the slowing US import and export trades are exercising increased discipline, maintaining capacity levels rather than introducing new vessels in an attempt to secure a larger share of the market.
02 Sep 2019
China’s largest carrier has expanded its Asia network with subsidiary OOCL to capture volume displaced by the US-China trade war.
04 Jul 2019
Carriers and shippers alike must adapt to the new realities of a container shipping market in which only a handful of large players control the vast majority of capacity.
25 Jun 2019
The shipping sector is lacking investments in effective carbon reducing technologies, threatening to miss IMO 2050 targets for decarbonization, according to a recent report from CDP.
24 Jun 2019
Summary: Carriers need low-sulfur fuel to be available in key bunkering ports around the world, but supply uncertainty remains.
10 May 2019
The Chinese state-run ocean carrier and fellow Asia-based lines are slowly revealing plans that tilt toward deeper logistics services beyond conventional ocean shipping, with a distinctive Asian focus.
28 Apr 2019
Chinese state-owned Cosco Shipping is one of several Asian and European ocean carriers that are increasingly focused on providing customers with deeper logistics services that go beyond conventional ocean shipping strategies.
05 Apr 2019
Container carriers are increasing capacity to Vietnam as manufacturers shift production from China to Southeast Asia.
29 Mar 2019
Container lines with the financial muscle — or state backing — are forging ahead with strategies aimed at controlling a greater portion of the container supply chain.
12 Mar 2019
A new Cosco loop to the port of Montreal is the port's third new service to and from Europe in the past year.
19 Feb 2019
The recently completed dredging project will allow India's busiest container port to handle vessels with a capacity of 12,500 TEU without tidal restrictions, and officials expect efficiency gains as well.
30 Nov 2018
The cuts come even amid reports of Brazilian coffee and cotton exporters scrambling for outbound capacity out of the ports of Santos and Vitoria.
29 Nov 2018
The combined US import market share of the Top 5 US import carriers slipped 0.3 percentage points to 58.1 percent from January through September, while the Top 5’s US export share fell 0.8 percentage points to 58.4 percent, according to data from PIERS, a sister product of JOC.com.
13 Nov 2018
In addition to survey responses, the Jones Walker study offered several cyber-defense recommendations.
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.
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.
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.
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.
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.
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.
25 Jul 2018
As Cosco continues to guide its customers through email transmissions for the booking of cargo, there was good news on Wednesday.
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.
02 Jul 2018
Two other Pipavav changes are likely to help speed cargo, terminal officials said.
11 Apr 2018
Confirming to Alphaliner that it is discussing US terminal assets with Committee on Foreign Investment in the United States officials, Cosco, a China government-backed carrier, said it is confident the deal will pass the US review and that the deal’s June 30 deadline will be met.
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.
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.
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.
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