China Ocean Shipping Company COSCO is one of the major multinational players in the shipping world, specializing in global shipping, modern logistics and ship building and repairing, ranking the 327th in Fortune Global 500. COSCO was established on April 27th, 1961, COSCO owns and controls over 800 modern merchant vessels with a total tonnage of 56 million L/M/Ts and an annual carrying capacity of 400 million tons. COSCC’s shipping lines cover over 1,600 ports in more than 160 countries and regions worldwide, and its fleet size ranks the first in China and the second in the world. COSCO is positioned the first in China and the fifth in the world by container fleet size, and is also the first in the world by dry bulk fleet. It takes a lead in the world for comprehensive strengths of professional bulk, multiple-purpose vessel and special vessel fleet. Oil tanker fleet of COSCO is one of the super tanker fleets in the world. COSCO owns and operates 32 terminals worldwide, with 157 berths offered. Statistics released by Drewry in July 2009 shows that the container terminals of COSCO continues to rank among top 5 places in the world. COSCO owns rich logistics facilities and resources. It operates more than 4,000 logistics vehicles, including large cargo transport vehicle with 289 axes and the largest carrying capacity of 8,000 tons, 2.49 million square meters of storage ground and 2.97 million square meters of warehouse. It provides high value-added services for customers in household, chemical, power and financing sectors. Besides, it also provides logistics services for many key projects home and abroad, such as Qinghai-Tibet Railway, Tianjin Airbus and Indian power station, setting many world records. ( cosco.com ) How shipper Cosco sailed into rough seas, One of the country's most prominent shipping operators, COSCO, is struggling to avoid being kicked out of the Shanghai Stock Exchange five years after its debut. It lost 6.5 billion yuan ($1.04 billion) in the first three quarters of 2012 after a 10.4 billion yuan USDCNY, +0.1022% loss the previous year. Analysts expect it to post a loss of under 10 billion yuan for all of 2012. COSCO is owned by China Ocean Shipping Co. (COSCO Group), a state-owned shipping giant whose lines cover over more than 160 countries and regions. It handles the majority of the parent's important businesses, including manufacturing and shipping, dry bulk shipping, building terminals and other sea transport logistics.
COSCO went public in Hong Kong in 2005 and in Shanghai two years later, raising about 7.8 billion yuan and 15.1 billion yuan, respectively. The last year it didn't lose money was 2010, when it posted a profit of 6.8 billion yuan. (BEIJING (Caixin Online)) Happier times In good years, COSCO prided itself on owning the world's largest fleet involved in dry bulk shipping.
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- Containerization, COSCO, shipping company COSCO, COSCO Holdings, cosco group, China Ocean Shipping Co.