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COSCO SHIPPING Lines Co., Ltd. () is a Chinese international
container A container is any receptacle or enclosure for holding a product used in storage, packaging, and transportation, including shipping. Things kept inside of a container are protected on several sides by being inside of its structure. The term ...
transportation and shipping company. It is a subsidiary of COSCO Shipping Holdings, and its parent company is China's state-owned
COSCO Shipping China COSCO Shipping Corporation Limited, abbreviated as COSCO Shipping, is a Chinese state-owned multinational conglomerate headquartered in Shanghai. The group is focused on marine transportation services. COSCO Shipping was established in J ...
.


History

In April 1961 China's
Ministry of Communications A Communications Ministry or Department of Communications is a ministry or other government agency charged with communication. Communications responsibilities includes regulating telecommunications, postal services, broadcasting and print media. T ...
established
China Ocean Shipping Company China Ocean Shipping Company, Limited, formerly China Ocean Shipping (Group) Company, commonly known for its abbreviated name COSCO Group, or simply, COSCO, is a former Chinese Government owned shipping and logistics services supplier compan ...
(COSCO) as a state-owned ocean shipping enterprise in Beijing. In 1964 China Ocean Shipping Co. established a subsidiary in Shanghai, COSCO Shanghai, which later specialized in container shipping. In 1978, COSCO Shanghai's MV ''Ping Xiang Cheng'' transported 162 TEU from
Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...
to
Sydney, Australia Sydney ( ) is the capital city of the States and territories of Australia, state of New South Wales, and the most populous city in both Australia and List of cities in Oceania by population, Oceania. Located on Australia's east coast, the metro ...
, which was the first international container voyage by a Chinese company. Thereafter, COSCO Shanghai commenced a monthly container service running two 200 TEU container ships between Shanghai, Xingang, Sydney, and Melbourne. In 1982 COSCO Shanghai began regular trans-Pacific container services and in 1983 COSCO Shanghai started a new container trade route connecting Tianjin Port and Shanghai with ports in West Europe. In 1994, COSCO Container Line Limited (COSCON), was formed to conduct COSCO's container operations in collaboration with regional subsidiaries such as the Shanghai branch. In November 1997, COSCON merged with COSCO Shanghai and became the sole container shipping subsidiary of COSCO. That same year, the Chinese government founded the SOE
China Shipping Group China Shipping Group Company, Limited, formerly China Shipping (Group) Company, is a former Chinese state-owned shipping conglomerate. It is now one of the intermediate holding companies for another Chinese state-owned conglomerate, China COSCO ...
along with its container shipping subsidiary,
China Shipping Container Lines COSCO Shipping Development Co., Ltd., stylized as COSCO SHIPPING Development is a financial services company based in Shanghai, China. It was known as China Shipping Container Lines (CSCL) and was among the world's largest container liner co ...
(CSCL). CSCL grew its business rapidly under the leadership of shipping industry veteran, Captain Li Kelin. The company saw its TEU market share increase 126% between 2000 and 2006, and by 2007 it became the sixth largest container transportation company in the world in terms of fleet capacity. COSCON established local offices and agencies in 160 countries. In North America, the company built a large intermodal network by investing in thousands of marine container chassis and contracting with trucking companies and major North American railroads. Likewise, CSCL developed a large intermodal network in the US, and in 2001 BNSF Railway announced a new double-stack service to transport China
Shipping container A shipping container is a container with strength suitable to withstand shipment, storage, and handling. Shipping containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes. In the context o ...
s from the Port of Los Angeles to the BNSF Chicago yards. In July 2007, COSCON named the 10,000 TEU ''COSCO Asia'' at HHI shipyard in
Ulsan Ulsan (), officially the Ulsan Metropolitan City is South Korea's seventh-largest metropolitan city and the eighth-largest city overall, with a population of over 1.1 million inhabitants. It is located in the south-east of the country, neighboring ...
. It was the largest container ship in COSCO's fleet at the time and the company later took delivery of three other 10,000 TEU ships. The 10,000 TEU vessels were highly automated and classed by
Lloyd's Register Lloyd's Register Group Limited (LR) is a technical and professional services organisation and a maritime classification society, wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and ...
to the highest environmental safety standards. By December 2013, the trans-Pacific service generated the most revenue for COSCON, RMB 14.2 million. Meanwhile, by May 2014 CSCL operated 40 overseas routes with a fleet of 148 container ships representing 656,000 TEU.


COSCO SHIPPING Lines

In March 2016 the parent company of COSCON,
COSCO Group China Ocean Shipping Company, Limited, formerly China Ocean Shipping (Group) Company, commonly known for its abbreviated name COSCO Group, or simply, COSCO, is a former Chinese Government owned shipping and logistics services supplier compa ...
, merged with the parent company of CSCL,
China Shipping Group China Shipping Group Company, Limited, formerly China Shipping (Group) Company, is a former Chinese state-owned shipping conglomerate. It is now one of the intermediate holding companies for another Chinese state-owned conglomerate, China COSCO ...
. Before the merger, COSCON and CSCL were the largest and second largest container lines in China, respectively. As a result of the merger, COSCON acquired the assets of CSCL and was renamed COSCO SHIPPING Lines. Meanwhile, CSCL acquired the container leasing subsidiaries of China Shipping Group and COSCO Group, and became a container leasing company. The newly created COSCO Shipping Lines has 502 container ships with 3.0 million TEU. The company has 255 international routes, calling at 356 ports in 105 countries., COSCO SHIPPING Lines has ordered several mega-ships, such as the 20,000 TEU '' COSCO Shipping Taurus'' and the 21,000 TEU
Universe-class container ship The ''Universe'' class is a series of 6 container ships built for COSCO SHIPPING Lines. The ships have a maximum theoretical capacity of 21,237 TEU. They are some of the largest container ships ever built and was the second class of ships to exce ...
s. On June 26, 2016, ''COSCO Shipping Panama'' became the first vessel to sail through the newly widened
Panama Canal The Panama Canal ( es, Canal de Panamá, link=no) is an artificial waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean and divides North and South America. The canal cuts across the Isthmus of Panama and is a Channel ( ...
. Over 5,000 people attended the event. From 1997, COSCON was a member of the CKYHE alliance, a pooling agreement to share vessel space with "K" Line, Yang Ming,
Hanjin The Hanjin Group () is a South Korean chaebol. The group has various industries covered from transportation and airlines to hotels, tourism, and airport businesses, and one of the largest chaebols in Korea. The group includes Korean Air (KAL) ...
, and
Evergreen In botany, an evergreen is a plant which has foliage that remains green and functional through more than one growing season. This also pertains to plants that retain their foliage only in warm climates, and contrasts with deciduous plants, which ...
. Meanwhile, CSCL was a member of the Ocean Three Alliance along with
CMA CGM CMA CGM S.A. is a French container transportation and shipping company. It is the world’s 3rd largest container shipping company, using 257 shipping routes between 420 ports in 160 countries. Its headquarters are in Marseille, France The name ...
and UASC. After the 2016 COSCO-China Shipping merger, COSCO SHIPPING Lines formed a new 5-year vessel-sharing contract, the Ocean Alliance, along with CMA CGM,
OOCL Orient Overseas Container Line, commonly known as OOCL, is a container shipping and logistics service company with headquarters in Hong Kong. The company is incorporated in Hong Kong as Orient Overseas Container Line Limited and separately inc ...
, and Evergreen. On July 24, 2018, COSCO SHIPPING Lines reported a cyber attack to its operations in the United States, Canada, and South America. COSCO later reported that the attack caused minimal disruption to its operations. In 2018, COSCO SHIPPING Holdings acquired Hong Kong-based
OOIL Orient Overseas (International) Limited (OOIL) is a Hong Kong, China based investment holding company involved in international transportation and logistics, and property investment and property development. It is the parent company of Orient ...
, the parent of
OOCL Orient Overseas Container Line, commonly known as OOCL, is a container shipping and logistics service company with headquarters in Hong Kong. The company is incorporated in Hong Kong as Orient Overseas Container Line Limited and separately inc ...
, for US$6.3 billion. In 2021, COSCO became one of the first global shipping companies to utilize the blockchain-enabled efficiency improvement application Cargo Release. Cosco has a terminal at Abu Dhabis new Khalifa Port. This terminal is also the first port in the middle East to have automatic port truck system.


Fleet


Accidents and incidents


''COSCO Asia''

In September 2013, the
container ship A container ship (also called boxship or spelled containership) is a cargo ship that carries all of its load in truck-size intermodal containers, in a technique called containerization. Container ships are a common means of commercial intermoda ...
''COSCO Asia'' was attacked by terrorists as it transited the Suez Canal. The attackers reportedly used machine guns and
RPG RPG may refer to: Military * Rocket-propelled grenade, a shoulder-launched anti-tank weapon **''Ruchnoi Protivotankoviy Granatomyot'' (Russian: ''Ручной Противотанковый Гранатомёт''), hand-held anti-tank grenade laun ...
launchers to fire at the ship. Egyptian security forces quelled the attack and the ship sustained only minor damage.


''COSCO Hope''

On March 2, 2016, the container ship ''COSCO Hope'' crashed into a gantry crane as it was leaving the
Suez Canal Container Terminal Suez Canal Container Terminal (SCCT) ( ar, شركة قناة السويس للحاويات) is a container terminal located at Port Said East and functions as a transshipment centre for the Eastern Mediterranean at the northern entrance to the S ...
in Egypt's Port Said. Several cranes collapsed or become damaged, and stacks of containers were knocked over and causing a fire.


''COSCO Shipping Leo''

On March 29, 2018, the container ship ''COSCO Shipping Leo'' collided with the cargo ship MERCURY TRIUMPH loaded with steel in the East China Sea during sea trials. The ''MERCURY TRIUMPH'' cargo ship was seriously damaged, and the starboard of the Leo ship's bow on ''COSCO Shipping Leo'' was damaged. There were 150 people on COSCO SHIPPING LEO at the time, but there were no casualties.


''COSCO Shipping Virgo''

On 24 December 2021, the container ship ''COSCO Shipping Virgo'' sustained propulsion loss off
Portugal Portugal, officially the Portuguese Republic, In recognized minority languages of Portugal: :* mwl, República Pertuesa is a country located on the Iberian Peninsula, in Southwestern Europe, and whose territory also includes the Macaronesian ...
when on route to
Rotterdam Rotterdam ( , , , lit. ''The Dam on the River Rotte'') is the second largest city and municipality in the Netherlands. It is in the province of South Holland, part of the North Sea mouth of the Rhine–Meuse–Scheldt delta, via the ''"N ...
. The ship was adrift for over three hours before resume the voyage.


See also

*
China and the World Trade Organization China became a member of the World Trade Organization (WTO) on 11 December 2001, after the agreement of the Ministerial Conference. The admission of China to the WTO was preceded by a lengthy process of negotiations and required significant cha ...
*
Containerization Containerization is a system of intermodal freight transport using intermodal containers (also called shipping containers and ISO containers). Containerization is also referred as "Container Stuffing" or "Container Loading", which is the p ...
*
COSCO Shipping China COSCO Shipping Corporation Limited, abbreviated as COSCO Shipping, is a Chinese state-owned multinational conglomerate headquartered in Shanghai. The group is focused on marine transportation services. COSCO Shipping was established in J ...
* Economy of China *
Intermodal freight transport Intermodal freight transport involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation (e.g., rail, ship, aircraft, and truck), without any handling of the freight itself when changing ...
*
List of largest container shipping companies Several shipping lines are involved in intermodal freight transport as part of international trade. List of largest container shipping companies This is a list of the 30 largest container shipping companies as of 11 August 2022, according to ' ...
*
Shipping industry of China In 1961 China established a state-run maritime shipping company and subsequently signed shipping agreements with many countries, laying the foundation for developing the country's ocean transport. That organization developed into the present-day ...
*
Transport in China Transport in China has experienced major growth and expansion in recent years. Although China's transport system comprises a vast network of transport nodes across its huge territory, the nodes tend to concentrate in the more economically deve ...


References


External links


Official website
{{Shipping companies of China Shipping companies of China COSCO Shipping Companies based in Shanghai Transport companies established in 2016 Chinese companies established in 2016 Government-owned companies of China Container shipping companies of China Container shipping companies