Two container ships of COSCO and China Shipping Line COSCO Group is retained as an intermediary parent company.
In December 2015, COSCO Group merged with China Shipping Group owned by the Chinese Government to form China COSCO Shipping). In 2008, China COSCO Holdings entered the Financial Times Global 500 list for the first time. In 2005, a smaller company owned by the Government, China Ocean Shipping Tally (referred to as China Ocean Tally), was merged into COSCO Corporation. In 2002, another subsidiary, COSCO Shipping Co., Ltd., became a listed company in Shanghai.
The company was a component of the Straits Times Index (30 representative companies listed on the Singapore Stock Exchange) until 2010. In 1995, another subsidiary, COSCO Corporation (Singapore) Limited, became a listed company on the Singapore Exchange.
In addition, COSCO also owns COSCO Pacific, a company listed in Hong Kong since 1994.ĬOSCO Pacific has a joint venture with Hongkong International Terminals Limited, which has operated a terminal at Kwai Tsing Container Terminal since 1991. In February 1997, COSCO established a branch in Hong Kong after acquiring a Hong Kong-listed company, Shun Shing Holdings. Two other companies are government-owned: China Marine Bunker Supply Company (Chimbusco) and China Road Transport Company, which became a subsidiary of the COSCO group in 19. In 1993, COSO became a corporation and was renamed China Ocean Shipping (Group) Company. Part 2: China Ocean Shipping (Group) Company - Period 1993–2015 In 1981, COSCO won a contract from the National Tanker Company owned by the Government of Pakistan to transport crude oil. That same year, COSCO became the China representative, partnering with International Telephone and Telegraph to repair communication facilities in coastal Chinese cities. This agreement opens up sea lanes of trade between the United States and China. Lykes Brothers - American shipping company Īfter the United States resumed relations with China in the 1970s, COSCO signed an agreement with the American shipping company Lykes Brothers in 1979. In the same year, COSCO's Guangdong branch acquired a British vessel, renamed it Guanghua, and made its maiden voyage to Jakarta for the People's Republic of China. Website: History of COSCO Shipping Lines Part 1: China Ocean Shipping Company - Period 1961–1993Ĭhina Ocean Shipping Company, COSCO for short, was established in 1961 as a Chinese government agency. In addition, COSCO shipping lines has also affirmed its own position when becoming the largest bulk carrier in China and one of the largest bulk carriers in the world.Īnd most importantly, COSCO is currently the largest shipping company in China. In 2012, COSCO Shipping Lines was among the top 15 Chinese brands. Ocean Plaza Building - COSCO Shipping Headquarters According to the "Alphaliner TOP 100" list, COSCO shipping line is currently ranked third worldwide in terms of the number of container ships and total container volumes in the world, just behind Maersk Line and MSC, and is standing on the ranking position of the shipping line CMA CGM. COSCO Shipping Lines itself was established from the merger of "COSCO Group" and China Shipping Group.ĬOSCO's head office is located at Ocean Plaza Building, Xicheng District, Beijing. ĬOSCO currently holds the largest share of China COSCO Shipping. Garden city terminal demurrage.Slogan "We are ready" of COSCO Shipping Lines General information about COSCO Shipping LinesĬhina Ocean Shipping Company, commonly known as "COSCO Group", or simply COSCO, is a shipping and logistics service company, formerly owned by the Chinese Government.
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