COSCO Shipping

{{main|COSCO}}

China Ocean Shipping (Group) Company, founded in 1961 and headquartered in Beijing, was a Chinese state-owned multinational transportation conglomerate. It was the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide. In addition, the Group is the largest liner carrier in China.{{Cite web|title=China Ocean Shipping (Group) Company Company Profile|url=https://finance.yahoo.com/|access-date=2021-04-03|website=finance.yahoo.com|language=en-US}} Its container shipping subsidiary – COSCO Container Lines – was one of the world's top 10 container carriers in terms of fleet capacity. COSCO was among China's top 15 brands in 2012.{{Cite journal|last=Dooley|first=Howard J.|jstor=23257908|title=The Great Leap Outward: China's Maritime Renaissance|journal=The Journal of East Asian Affairs|publisher=Institute for National Security Strategy|volume=26|issue=1|page=57|date=Spring–Summer 2012}}

{{main|China Shipping Group}}

China Shipping (Group) Company was founded in 1997 and was headquartered in Shanghai. The group was a Chinese state-owned multinational transportation conglomerate. By May 2014, China Shipping's container shipping subsidiary – China Shipping Container Lines – operated 156 container vessels with 656,000 TEU capacity.{{cite web|url=http://www.chinashippingna.com/|title=China Shipping: About Us|first=|last=|date=|publisher=|accessdate=22 May 2020}} China Shipping Container Lines' container ship CSCL Globe was the world largest in 2014.{{cite news|title=A quarter of a mile long and arriving here now - the world's biggest ship docks in Britain|last1=Tovey|first1=Alan|newspaper=The Daily Telegraph|date=7 January 2015|accessdate=16 January 2015|url=https://www.telegraph.co.uk/finance/newsbysector/transport/11330899/A-quarter-of-a-mile-long-and-arriving-here-now-the-worlds-biggest-ship-docks-in-Britain.html}} China Shipping's other subsidiaries operated oil tankers, tramps, passenger ships, and car carriers.

In January 2016, the Chinese State Council approved the merger of COSCO and China Shipping, forming COSCO Shipping. The merger – which occurred during a downturn in the marine transportation industry – sought to achieve economies of scale.{{cite web |url=https://de.reuters.com/article/us-china-shipping-cosco-idUSKCN0VR0AK |title=China launches new shipping giant to battle downturn |last=Goh |first=Brenda |date=February 17, 2016 |website=Reuters |publisher= |access-date=December 14, 2020 |quote=}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}}{{cite web|url=https://www.freightwaves.com/news/merged-china-cosco-shipping-corporation-limited-launched|title=Merged China COSCO Shipping Corporation Limited launched|first=Chris|last=Dupin|date=18 February 2016|publisher=|accessdate=22 May 2020}} The merger was also part of a Chinese government strategy to restructure its state-owned shipping sector.{{cite web|url=https://www.joc.com/maritime-news/china-committed-reforming-its-state-dominated-shipping-sector_20150616.html|title=China committed to reforming its state-dominated shipping sector|first=Greg|last=Knowler|date=16 June 2015|publisher=|accessdate=22 May 2020}}

Shortly after, the subsidiary COSCO Shipping Holdings partnered with Shanghai International Port Group to acquire the majority stake of Orient Overseas (International) from Tung Chee-hwa-Chee-chen families.{{cite news|url=https://www.hk01.com/%E7%A4%BE%E6%9C%83%E6%96%B0%E8%81%9E/103601/%E8%91%A3%E5%BB%BA%E8%8F%AF%E5%AE%B6%E6%97%8F%E6%97%97%E4%B8%8B%E6%9D%B1%E6%96%B9%E6%B5%B7%E5%A4%96%E8%B3%A3%E7%9B%A4-%E4%B8%AD%E9%81%A0%E6%B5%B7%E9%81%8B%E6%96%A5492%E5%84%84%E6%94%B6%E8%B3%BC|script-title=zh:董建華家族旗下東方海外賣盤 中遠海運斥492億收購|date=9 July 2017|accessdate=14 December 2020|work=HK01|language=zh-hk}}{{cite news|url=https://orientaldaily.on.cc/cnt/news/20170710/00174_001.html|script-title=zh:回歸20年 東方海外售予中資 董建華492億賣家業|date=10 July 2017|accessdate=14 December 2020|newspaper=Oriental Daily|language=zh-hk}} The deal was completed in August 2018. Orient Overseas (International) is the parent company of OOCL. This will make it one of the world's largest container shipping company with a fleet of over 400 vessels.{{cite news|title=China shipping firm Cosco to buy HK rival OOIL for $6.3bn|work=BBC News |date=10 July 2017 |url=https://www.bbc.co.uk/news/40552293|accessdate=10 July 2017}}

In April 2016 the company agreed to buy 51% of Piraeus Port Authority,{{cite web|

date=11 April 2016|

publisher=Hellenic Shipping News|

title=Greek president hopes for more investments following Piraeus Port Authority deal|

access-date=13 April 2016|

url=http://www.hellenicshippingnews.com/greek-president-hopes-for-more-investments-following-piraeus-port-authority-deal/|

archive-url=https://web.archive.org/web/20160426151831/http://www.hellenicshippingnews.com/greek-president-hopes-for-more-investments-following-piraeus-port-authority-deal/|

archive-date=26 April 2016|

url-status=dead}} which is listed on the Athens Stock Exchange ({{Athex|PPA}}) and is a constituent of the FTSE/Athex Large Cap index. Its subsidiary Piraeus Container Terminal (PCT) has been operating two Piers at Piraeus Port since 2009.

In January 2017, the company was awarded $26.1 billion by the China Development Bank to participate in the Belt and Road Initiative. The funding would run through 2021. COSCO has used the finances to invest in its ports and infrastructure projects.{{cite web |url=https://www.joc.com/international-trade-news/infrastructure-news/china-cosco-gets-26b-belt-and-road-initiatives_20170113.html |title=China Cosco gets $26B for Belt and Road initiatives |last=Braden |first=Dustin |date=January 13, 2017 |website=JOC.com |publisher= |access-date=December 2, 2020 |quote=}}

File:Navire JIA HUI SHAN à quai.jpg]]

In May 2017, the company signed a deal with Kazakhstan's national railway company to take 24% stake in an inland port in the Khorgos Eastern Gate Special Economic Zone.{{cite web |url=https://fr.reuters.com/article/uk-china-silkroad-cosco-idUKKCN18A0KF |title=China's COSCO to invest in Kazakhstan border project as part of Silk Road drive |last= |first= |date=May 14, 2017 |website=Reuters |publisher= |access-date=December 2, 2020 |quote=}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} In December 2018, COSCO Shipping Ports secured a 35-year concession to operate and develop a newly built container terminal in Khalifa Port.{{cite web |url=https://www.cnbc.com/2018/12/10/belt-and-road-abu-dhabi-ports-sees-huge-trade-boost-from-cosco-deal.html |title=China's Cosco and Abu Dhabi Ports develop Khalifa to support Belt and Road initiative |last=Gilchrist |first=Karen |date=December 9, 2018 |website=CNBC |publisher= |access-date=December 2, 2020 |quote=}} In November 2019, the company invested $660 million to upgrade the Piraeus container port, Greece's largest port.{{cite web |url=https://www.reuters.com/article/us-greece-china/china-greece-agree-to-push-ahead-with-coscos-piraeus-port-investment-idUSKBN1XL1KC |title=China, Greece agree to push ahead with COSCO's Piraeus Port investment |last= |first= |date=November 11, 2019 |website=Reuters |publisher= |access-date=December 2, 2020 |quote=}}

On May 11, 2020, COSCO Shipping Ports, Dongfeng Commercial Vehicle, and China Mobile successfully transported a shipping container within Xiamen Ocean Gate Terminal using an AGV guided by 5G. The achievement demonstrated an application of 5G technology in developing a "smart port". At the event, the three companies announced a roadmap for large-scale implementation of 5G technology in ports.{{cite web |url=https://container-news.com/cosco-shipping-proceed-with-5g-smart-ports-vision/ |title=COSCO Shipping proceed with 5G smart ports vision |author= |date=May 12, 2020 |website=Container News |publisher= |access-date=December 2, 2020 |quote=}}{{cite web |url=https://www.worldcargonews.com/news/smart-port-enabled-by-5g--self-driving-technology-launched-in-xiamen-64298 |title="Smart Port Enabled by 5G + Self-driving Technology" launched in Xiamen |last=Avery |first=Paul |date=14 May 2020 |website=WorldCargo News |publisher= |access-date=December 2, 2020 |quote=}}

In July 2020, the company entered into an agreement with Alibaba and its affiliate,Ant Group, to jointly promote cooperation on the application of a shipping blockchain.{{cite news |title=Cosco joins Alibaba to promote shipping blockchain |url=https://www.globalcargonews.com/cosco-joins-alibaba-to-promote-shipping-blockchain |accessdate=8 July 2020 |publisher=Global Cargo News |date=8 July 2020 |archive-date=18 August 2020 |archive-url=https://web.archive.org/web/20200818003136/https://www.globalcargonews.com/cosco-joins-alibaba-to-promote-shipping-blockchain |url-status=dead}}

COSCO Shipping and its predecessor COSCO, has a Hong Kong division, COSCO Shipping (Hong Kong) Limited, a private company formerly known as Cosco (Hong Kong) Group Limited. This acquired listed company COSCO Shipping International (at that time, Shun Shing Holdings) as a vehicle of backdoor listing in 1997 and bought the real estate businesses, such as Shun Shing Construction and an office building, from COSCO Shipping International in the 2000s.{{clarify|date=December 2020}}{{cite news|url=https://hk.appledaily.com/finance/20050531/GFGMHFLRLN4QNMRQBYIFP35AAE/|script-title=zh:中遠國際14億售寫字樓|date=31 May 2005|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621164548/https://hk.appledaily.com/finance/20050531/GFGMHFLRLN4QNMRQBYIFP35AAE/|url-status=dead}}{{cite report|url=http://hk.coscoshipping.com/media/1139/ar-2007-final-english-25-4-2008.pdf|title=2007 Annual Report|date=2008|accessdate=14 December 2020|publisher=COSCO International|page=9 }} Cosco (HK) Group itself also purchased a 20% stake in Lai Sun Hotels in 1997.{{cite news|url=https://www.scmp.com/article/191926/cosco-eyes-china-hotels-management|title=Cosco eyes China hotels management|date=12 April 1997|accessdate=14 December 2020|newspaper=South China Morning Post|location=Hong Kong|url-access=limited}} However, after the 1997 Asian financial crisis, Lai Sun Development, the parent company of Lai Sun Hotels, scrapped the IPO of Lai Sun Hotels and sold all the assets of Lai Sun Hotels instead.{{clarify|date=December 2020}} {{cite news|url=https://www.scmp.com/article/232831/lai-sun-scraps-float-sell-units-514m|title=Lai Sun scraps float to sell units for $514m|date=11 March 1998|accessdate=14 December 2020|newspaper=South China Morning Post|location=Hong Kong|url-access=limited}}

In 2023 the Bulgarian agent of COSCO Shipping lines, Three Stars Ltd, was accused in the local media of racketeering and violating antitrust laws.{{cite news|url=https://www.iustitia.bg/cosco-shipping-lines-three-stars-ltd-racketeering|title=COSCO SHIPPING Lines and THREE STARS LTD racketeering exporters in Europe|date=11 November 2023|accessdate=30 November 2023|newspaper=Iustitia.bg|location=Bulgaria|url-access=limited}}

The company was a shareholder in the Chinese real estate developer, Sino-Ocean Group. The stake was sold in 2010.{{cite news|url=https://hk.appledaily.com/finance/20100817/4DIFXFZ5K636HNIKJ7BSM5U7GI/|script-title=zh:中遠國際將悉售遠地 擬1年內執行 料獲利6.6億|date=17 August 2010|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621191402/https://hk.appledaily.com/finance/20100817/4DIFXFZ5K636HNIKJ7BSM5U7GI/|url-status=dead}} It was reported that the SASAC of the State Council has ordered Government owned companies to sell real estate development unit if it is not their main businesses.{{cite news|url=https://www.yicai.com/news/392154.html|script-title=zh:中远明确退出房地产业务时间表|date=17 August 2010|accessdate=14 December 2020|website=yicai.com|language=zh-cn}}

{{Further|United States sanctions against China}}

On September 25, 2019, the US Treasury Department sanctioned the tanker subsidiary of COSCO Shipping, COSCO Shipping Tanker (Dalian) Seaman & Ship Management, as well as COSCO Shipping Tanker (Dalian), for breaching the United States sanctions against Iran. However, the parent company of the aforementioned companies were not sanctioned.{{cite press release |title=The United States Imposes Sanctions on Chinese Companies for Transporting Iranian Oil |date=September 25, 2019 |publisher= |location= |url=https://translations.state.gov/2019/09/25/the-united-states-imposes-sanctions-on-chinese-companies-for-transporting-iranian-oil/ |last=Pompeo |first=Michael |access-date=2020-12-02 |agency=US Department of State}} The US lifted the sanctions against COSCO Shipping in January 2020.{{cite web |last=Gillis |first=Chris |date=January 31, 2020 |title=US lifts sanctions against COSCO's tanker operation |url=https://www.freightwaves.com/news/us-lifts-sanctions-against-coscos-tanker-operation |access-date=December 2, 2020 |website=American Shipper |publisher= |quote=}}

In January 2025, COSCO was added to a United States Department of Defense list of companies that allegedly work with the People's Liberation Army.{{Cite web |last=Areddy |first=James T. |date=January 6, 2025 |title=Pentagon Labels More Chinese Companies as Military in Nature |url=https://www.wsj.com/politics/national-security/pentagon-labels-more-chinese-companies-as-military-in-nature-bac351b5 |url-access=subscription |access-date=2025-01-08 |website=The Wall Street Journal |language=en-US}}

{{Infobox company

| name = COSCO Shipping Holdings Co., Ltd.

| logo =

| type = Public company

| traded_as = {{hkse|1919}}
{{SSE|601919}}
CSI A100

| former_name = China COSCO Holdings Company Limited

| foundation = 2005

| founder =

| location = {{aligned table|Shanghai, China|(de facto)|Tianjin, China|(registered office)}}

| origins =

| key_people = Legal Representative and Chairman: Mr. Ma Zehua (马泽华)

| area_served = People's Republic of China

| industry = Shipping and Logistics

| products =

| services = Container shipping, Dry bulk shipping, Third party logistics, Freight forwarding, Terminal and container leasing

| revenue =

| operating_income =

| net_income =

| num_employees =

| parent = COSCO Shipping (via COSCO Group)

| divisions =

| subsid = COSCO Pacific
COSCO Shipping Lines

| owner = COSCO Shipping

| homepage = {{url|http://en.hold.coscoshipping.com}}

}}

COSCO Shipping Holdings Co., Ltd., formerly China COSCO Holdings Company Limited was established in the People's Republic of China in 2005. It is the listed flagship and a subsidiary of China Ocean Shipping (Group) Company ("COSCO Group"), the largest integrated shipping company in China and the second largest in the world.

China COSCO Holdings provides a wide range of container shipping, dry bulk shipping, third party logistics, freight forwarding, Terminal and container leasing domestically and internationally. It is headquartered in Shanghai.{{Cite web |url=http://www.chinacosco.com//ChinaCosco/articleList.do?method=viewCatalog&catalogId=2c91c2c40d0a8ca9010d0a912cf70005&orderby=createdate&sort=desc&showListId=2c91c2c40d0a8ca9010d0a912cf70005&secondCatalogId=null |title=Corporate Profile of China COSCO |access-date=2008-03-29 |archive-url=https://web.archive.org/web/20080502162855/http://www.chinacosco.com/ChinaCosco/articleList.do?method=viewCatalog&catalogId=2c91c2c40d0a8ca9010d0a912cf70005&orderby=createdate&sort=desc&showListId=2c91c2c40d0a8ca9010d0a912cf70005&secondCatalogId=null |archive-date=2008-05-02 |url-status=dead }}

On 30 June 2005, its H shares were listed on the Hong Kong Stock Exchange. On 26 June 2007, its A shares were listed on the Shanghai Stock Exchange.{{Cite web |url=http://en.cosco.com/col/col768/index.html |title=COSCO Group Listed Companies |access-date=2022-01-01 |archive-date=2015-02-17 |archive-url=https://web.archive.org/web/20150217013303/http://en.cosco.com/col/col768/index.html |url-status=dead }}

China COSCO recorded a loss for financial years 2011 and 2012 and could face a delisting from the Shanghai Stock Exchange if it made a loss for the third consecutive year. On 27 March 2013, China COSCO recorded a profit of RMB 235.47 million for the 2013 financial year and avoided the possible delisting.{{Cite news |url=https://www.reuters.com/article/chinacosco-earnings-idUSL4N0MN14M20140327 |title=China COSCO returns to profit, avoids delisting risk | Reuters |website=Reuters |date=27 March 2014 |access-date=2017-06-30 |archive-date=2015-09-24 |archive-url=https://web.archive.org/web/20150924195214/http://www.reuters.com/article/2014/03/27/chinacosco-earnings-idUSL4N0MN14M20140327 |url-status=live }}

In December 2015, COSCO Group underwent a major reorganisation with China Shipping Group to form the new China COSCO Shipping Corporation Limited.

As part of the reorganization, China COSCO would sell 100% of equity interest in China COSCO Bulk Shipping (Group) Co., Ltd. to COSCO Group, representing the disposal of its dry bulk shipping business. After the reorganization, China COSCO would focus on the container shipping business.

In addition, China COSCO would buy certain amount of equity interest of a total of 30 onshore agency companies from China Shipping Container Lines ("CSCL") and its subsidiary. China COSCO would also enter into a lease agreement with CSCL, under which it would lease the vessels and containers owned or operated by the latter. After the transaction and agreement, China COSCO would acquire the container services-related assets previously owned by CSCL, and become one of the world's leading container shipping and terminal service providers.{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2015/1230/LTN20151230558.pdf |title=Major and Connected Transactions |website=Hkexnews.hk |accessdate=2016-04-30}}

• Largest container shipping companies
• COSCO fleet lists
• COSCO Group
• COSCO (Hong Kong) Group
• COSCO Shipping Ports
• COSCO Shipping International
• China International Marine Containers

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{{Shipping companies of China}}

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