COSCO Shipping Ports Limited, stylized as COSCO SHIPPING Ports is a Hong Kong listed company and investor in ports. The company is formerly known as COSCO Pacific Limited and was an indirect subsidiary of

COSCO China Ocean Shipping Company (COSCO) was a former shipping corporation from 1961 to 2016, owned by the State Council of the People's Republic of China, State Council of China. The company merged with China Shipping Group, China Shipping Grou ...

and now part of its successor, COSCO Shipping. It is mainly engaged in

container terminal A container port, container terminal, or intermodal terminal is a facility where cargo containers are transshipped between different transport vehicles, for onward transportation. The transshipment may be between container ships and land v ...

operations,

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 ...

manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer ...

and

leasing A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

shipping agency A shipping agency, shipping agent, or ship agency is the term used to refer to the appointed companies that handle operational and procedural (legal) requirements for a commercial vessel's call at a port for the purposes of cargo handling (loadin ...

and freight forwarding. COSCO Pacific was a

Hang Seng Index The Hang Seng Index (HSI) is a market-Capitalization-weighted index, capitalisation-weighted stock market index in Hong Kong adjusted for free float. It tracks and records daily changes in the largest stock listings on the Hong Kong Stock Exch ...

constituent ( blue chip) from 2003 to 2014. COSCO Pacific also a

red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a ...

company so that it once considered as a purple chip company.

History

COSCO Pacific Limited is a

Bermuda Bermuda is a British Overseas Territories, British Overseas Territory in the Atlantic Ocean, North Atlantic Ocean. The closest land outside the territory is in the American state of North Carolina, about to the west-northwest. Bermuda is an ...

incorporated company and was a subsidiary of China Ocean Shipping (Group) Company (COSCO). In 1994, it became a listed company in the

Stock Exchange of Hong Kong The Stock Exchange of Hong Kong (, SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. It is one of the largest stock exchanges in Asia and the 9th largest globally by market capitalization as of August 20 ...

(SEHK). At that time,

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

is a British colony and not yet

handover In cellular telecommunications, handover, or handoff, is the process of transferring an ongoing call or data session from one channel connected to the core network to another channel. In satellite communications it is the process of transf ...

back to the People's Republic of China. After the 1997 handover, Hong Kong still has a separate jurisdiction apart from the Mainland China. Since COSCO Pacific was incorporated in Hong Kong but indirectly controlled by the Chinese government, the company is considered as a red chip. COSCO Pacific, partnered with

Hongkong International Terminals Hongkong International Terminals Limited (HIT) () operates 12 berths in Terminal 4, 6, 7 and 9 (North) of Kwai Tsing Container Terminals and another four at Terminal 8 through a joint venture with COSCO SHIPPING Ports and Asia Container Termin ...

, operates the Terminal 8 (East) of Kwai Tsing Container Terminals since 1991. Hong Kong was once busiest container port in which Kwai Tsing Terminals is the main container port of the city. From 1997 to 2007, COSCO Pacific was a minority shareholder (20%) of Liu Chong Hing Bank. From 2007 the stake was owned by COSCO Pacific's parent company, COSCO HK. In 2003, COSCO Pacific is a co-investor of a phase of Qingdao Qianwan Container Terminal, for 20% shares of the SPV that carry the actual investment. In the same year, COSCO Pacific also formed a joint venture with PSA. In 2008, COSCO Pacific made a bid for a 35-year concession to operate the container port of Piraeus. In 2016, COSCO Pacific's intermediate parent company, China COSCO Holdings, announced to make a bid of the ownership of the port. In March 2016, COSCO Pacific's joint venture, COSCO-PSA Terminal, announced to expand the shipping terminal at Pasir Panjang, Singapore. In July 2016, COSCO Pacific announced it plans to change its name to COSCO Shipping Ports Limited. The decision is linked to a merger and major reorganization of China Shipping Group and COSCO Group earlier in 2016. COSCO Shipping ports built the Port of Chancay in Peru, the opening of which was celebrated during a November 2024 state visit by Xi Jinping to Peru. Chancay port is part of the

Belt and Road Initiative The Belt and Road Initiative (BRI or B&R), known in China as the One Belt One Road and sometimes referred to as the New Silk Road, is a global infrastructure development strategy adopted by the government of China in 2013 to invest in more t ...

. Xi described the port as the beginning of a new maritime-land corridor between China and Latin America.

Shareholders

COSCO Shipping Ports is a listed company. As of November 2020, the market capitalization is HK$17

billion Billion is a word for a large number, and it has two distinct definitions: * 1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is now the most common sense of the word in all varieties of ...

(Not yet

free-float In the context of stock markets, the public float or free float represents the portion of Share (finance), shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, control ...

adjusted). , fellow listed company COSCO Shipping Holdings is the parent company of COSCO Shipping Ports. COSCO Shipping Holdings (via subsidiaries "COSCO Investments" and "China COSCO (Hong Kong)") owns 47.26% shares of COSCO Shipping Ports. COSCO Shipping Holdings is in turn parented by China Ocean Shipping Company (COSCO) and ultimately, China COSCO Shipping (COSCO Shipping). COSCO Shipping is one of the entity that was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, making COSCO Shipping Ports qualifies for one of the criteria of red chip (another criterion is incorporated outside Mainland China, which COSCO Shipping Ports does). COSCO Shipping Ports was a former constituents of

, the blue chip index, until 2014, as well as Hang Seng China-Affiliated Corporations Index, formerly an index for notable red chips, until September 2020.

Port assets

As at 31 December 2023, COSCO SHIPPING Ports operated and managed terminals at 38 ports globally.

References

External links

* {{DEFAULTSORT:Cosco Shipping Ports Companies listed on the Hong Kong Stock Exchange Shipping companies of China Port operating companies Former companies in the Hang Seng Index COSCO Shipping