COSCO Shipping Lines#COSCO Container Lines
{{short description|Chinese container shipping company}}
{{Infobox company
| name = COSCO SHIPPING Lines Co., Ltd.
| native_name = {{lang|zh|中远海运集装箱运输有限公司}}
| logo = COSCOCS-ver1.svg
| logo_size = 150px
| image =
| type = State-owned enterprise
| traded_as =
| foundation = {{start date and age|2016}}
| fate =
| successor =
| founder =
| location_city = Shanghai
| location_country = China
| location =
| key_people = Yanghao Zhijian (CEO)
| area_served = Worldwide
| industry = Maritime transport, Container shipping
| products = Container shipping
| services =
| revenue =
| operating_income =
| net_income =
| num_employees =
| parent = COSCO Shipping Holdings
| divisions =
| subsid =
| owner =
| slogan =
| homepage = {{URL|http://lines.coscoshipping.com/}}
}}
COSCO SHIPPING Lines Co., Ltd. ({{zh|c=中远海运集运}}) is a Chinese international container transportation and shipping company. It is a subsidiary of COSCO Shipping Holdings, and its parent company is China's state-owned COSCO Shipping.
History
In April 1961 China's Ministry of Communications established China Ocean Shipping Company (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.
File:COSCO Hamburg (ship, 2001) 002.jpg
In 1978, COSCO Shanghai's MV Ping Xiang Cheng transported 162 TEU from Shanghai to Sydney, Australia, which was the first international container voyage by a Chinese company.{{rp|56}}{{Cite web |url=http://www.coscon.com/about.screen?locale=en |title=COSCON, About Us |access-date=2 December 2020 |archive-date=19 August 2015 |archive-url=https://web.archive.org/web/20150819100812/http://www.coscon.com/about.screen?locale=en |url-status=live }}{{cite book |last1= Yang|first1= Dong |last2=Liu |first2=Qing|last3=Jiang|first3=Liping|last4=Zhang|first4=Wei|last5=Chu|first5=Wenrong|date=2019 |title=Maritime Business and Economics - Asian Perspectives|editor-last=Duru|editor-first=Okan |location=Abingdon, Oxford |publisher=Routledge |isbn=9781138282124}}{{cite book |last1=Zhang |first1=Wenxian |last2=Alon|first2=Ilan|date=2010 |title=A Guide to the Top 100 Companies in China |location=Singapore |publisher=World Scientific |pages=55–59 |isbn=978-9814291460}}{{cite book |last=Howard |first=Michael |date=2011 |title=Transnationalism and Society - An Introduction |location=Jefferson, North Carolina |publisher=McFarland & Company, Inc. |pages=128–129 |isbn=978-0-7864-6454-8}} Thereafter, COSCO Shanghai commenced a monthly container service running two 200 TEU container ships between Shanghai, Xingang, Sydney, and Melbourne.{{Citation needed|reason=was retrieved from ZOSEN periodical archived https://www.google.com/books/edition/_/2mtWAAAAMAAJ?hl=en&gbpv=1&bsq=inaugurated but not sure on citation |date=December 2020}}
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.
File:China Shipping trailer Memphis TN 016.jpg
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.[http://cosco.com/about/history4.asp COSCO, About, History] {{webarchive |url=https://web.archive.org/web/20030225153515/http://cosco.com/about/history4.asp |date=25 February 2003}}{{cite book |last1=Shi |first1=Yan|last2=Stringer|first2=Christina|last3=Lan Ge|first3= Gloria|editor1-last=Ramburuth|editor1-first=Prem|editor2-last=Stringer|editor2-first=Christina|editor3-last=Serapio|editor3-first=Manuel|date=2013 |title=Dynamics of International Business - Asia-Pacific Business Cases |location=Cambridge |publisher=Cambridge University Press |isbn=9781107675469}} That same year, the Chinese government founded the SOE China Shipping Group along with its container shipping subsidiary, China Shipping Container Lines (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.{{Cite web|url=http://www.globenewswire.com/news-release/2019/09/04/1911162/0/en/CN-and-COSCO-Shipping-Lines-Extend-Intermodal-Partnership.html|title=CN and COSCO Shipping Lines Extend Intermodal Partnership|first=Canadian National|last=Railway|date=September 4, 2019|website=GlobeNewswire News Room}} 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 containers 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. 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 to the highest environmental safety standards.{{cite web |url=https://www.marinelink.com/news/container-ship-christened-at-cosco314681 |title=Container Ship Christened at COSCO |author= |date=July 31, 2007 |website=MarineLink |access-date=December 1, 2020}}
By December 2013, the trans-Pacific service generated the most revenue for COSCON, RMB 14.2 million.{{Cite web |url=http://www.coscon.com/about/factsfigures.do?locale=en |archive-url=https://web.archive.org/web/20150414013401/http://www.coscon.com/about/factsfigures.do?locale=en |title=COSCON: Facts and Figures |archive-date=April 14, 2015 |website=www.coscon.com }} Meanwhile, by May 2014 CSCL operated 40 overseas routes with a fleet of 148 container ships representing 656,000 TEU.
=COSCO SHIPPING Lines=
File:FullSizeRender (1)1.jpg]]
In March 2016 the parent company of COSCON, COSCO Group, merged with the parent company of CSCL, China Shipping Group. 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.,{{cite web |url=http://lines.coscoshipping.com/home/About/about/Profile |title=COSCO SHIPPING Lines, About Us |author= |access-date=December 1, 2020 }} 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 ships.
On June 26, 2016, COSCO Shipping Panama became the first vessel to sail through the newly widened Panama Canal.{{cite web |url=https://www.offshore-energy.biz/china-coscos-ship-1st-to-sail-the-expanded-panama-canal/ |title=China Cosco's Ship 1st to Sail the Expanded Panama Canal |author= |website=Offshore Energy |date=May 2016 |access-date=December 1, 2020 }}{{cite web |url=https://www.seatrade-maritime.com/americas/cosco-shipping-panama-starts-historic-transit-expanded-panama-canal |title=Cosco Shipping Panama starts historic transit of expanded Panama Canal |last=Labrut |first=Michele |date=June 26, 2016 |website=Seatrade Maritime News |access-date=December 1, 2020 }} Over 5,000 people attended the event.{{cite press release |author= |title=The Inaugural Sail of M.V. COSCO SHIPPING PANAMA through the Expanded Panama Canal |url=http://en.coscoshipping.com/art/2016/6/27/art_6923_49018.html |agency=China COSCO SHIPPING Corporation |date=June 27, 2016 |access-date=2020-12-01}}
File:COSCO NEBULA , RPA 15 , BEAGLE , SMIT PANTHER (49232623631).jpg, December 17, 2019]]
From 1997, COSCON was a member of the CKYHE alliance, a pooling agreement to share vessel space with "K" Line, Yang Ming, Hanjin, and Evergreen. Meanwhile, CSCL was a member of the Ocean Three Alliance along with CMA CGM 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, and Evergreen.{{cite web |url=https://www.joc.com/maritime-news/container-lines/ocean-alliance/container-shipping%E2%80%99s-new-ocean-alliance-born_20160420.html |title=Container shipping's new Ocean Alliance is born |last=Knowler |first=Greg |date=April 20, 2016 |website=JOC.com |access-date=December 1, 2020 }}{{cite press release |author= |title=COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line to establish OCEAN Alliance |url=http://lines.coscoshipping.com/home/News/detail/14611437304137691710/50000000000000233 |location=Shanghai |agency=COSCO SHIPPING Lines |date=April 20, 2016 |access-date=2020-12-01}}
On July 24, 2018, COSCO SHIPPING Lines reported a cyber attack to its operations in the United States, Canada, and South America.{{cite web |url=https://www.maritime-executive.com/article/cosco-reports-cyberattack-at-its-u-s-operations |title=Cosco Reports Cyberattack at its U.S. Operations |author= |date=July 25, 2018 |website=The Maritime Executive |access-date=December 1, 2020 }}{{cite web |url=https://www.offshore-energy.biz/cosco-shipping-lines-falls-victim-to-cyber-attack/ |title=COSCO Shipping Lines Falls Victim to Cyber Attack |author= |website=Offshore Energy |date=25 July 2018 |access-date=December 1, 2020 }}{{cite web |url=https://www.joc.com/maritime-news/container-lines/cosco/cosco-responds-cyber-attack-us-operations_20180724.html |title=Cosco responds to cyber attack on US operations |last=Mongelluzzo |first=Bill |date=July 24, 2018 |website=JOC.com |access-date=December 1, 2020 }} COSCO later reported that the attack caused minimal disruption to its operations.{{cite web |url=https://www.joc.com/maritime-news/container-lines/cosco/cosco%E2%80%99s-pre-cyber-attack-efforts-protected-network_20180730.html |title=Cosco's pre-cyber attack efforts protected network |last=Mongelluzzo |first=Bill |date=July 30, 2018 |website=JOC.com |access-date=December 1, 2020 }}
In 2018, COSCO SHIPPING Holdings acquired Hong Kong-based OOIL, the parent of OOCL, for US$6.3 billion.{{cite web |url=https://oevz.com/en/chinas-cosco-shipping-holdings-completes-oocl-acquisition/ |title=China's Cosco Shipping Holdings completes OOCL acquisition |author= |date=August 6, 2018 |website=oevz.com |access-date=December 1, 2020 }}{{cite web |url=https://splash247.com/cosco-completes-oocl-takeover/ |title=Cosco completes OOCL takeover |last=Jiang |first=Jason |date=July 26, 2018 |website=Splash 247.com |access-date=December 1, 2020 }}
In 2021, COSCO became one of the first global shipping companies to utilize the blockchain-enabled efficiency improvement application Cargo Release.{{Citation
| last =Ajdin
| first =Adis
| title =Global Shipping Business Network launches blockchain solution in China
| publisher =Splash247
| date =July 21, 2021
| url =https://splash247.com/global-shipping-business-network-launches-blockchain-solution-in-china/
| access-date =September 11, 2021 }}
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. {{cite web | url=https://m.youtube.com/watch?v=q-9dvjA7MNk | title=CSP Abu Dhabi Terminal and Khalifa Port Implement Region's First Autonomous Port Truck System | website=YouTube }}
Fleet
Accidents and incidents
= ''COSCO Asia'' =
In September 2013, the container ship COSCO Asia was attacked by terrorists as it transited the Suez Canal. The attackers reportedly used machine guns and RPG launchers to fire at the ship. Egyptian security forces quelled the attack and the ship sustained only minor damage.{{cite web |url=https://www.aljazeera.com/news/2013/9/1/ship-attack-foiled-in-suez-canal |title=Ship attack foiled in Suez Canal |author= |date=September 1, 2013 |website=Al Jazeera |publisher= |access-date=December 21, 2020 |quote=}}{{cite web |url=https://splash247.com/cosco-asia-ae%CB%9Cstruck-by-rpgae/ |title=Cosco Asia struck by RPG |author= |date=September 3, 2013 |website=Splash247.com |publisher= |access-date=December 21, 2020 |quote=}}
= ''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 in Egypt's Port Said. Several cranes collapsed or become damaged, and stacks of containers were knocked over and causing a fire.{{Cite web|title=Mega COSCO HOPE allided with crane, 20 plus containers destroyed by fire, Port Said|url=https://www.fleetmon.com/maritime-news/2016/12671/mega-cosco-hope-allided-crane-20-plus-containers-d/|access-date=2021-04-30|website=FleetMon.com|language=en}}
= ''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.{{Cite web|title=World's largest container ship, Cosco Shipping Leo, collided and almost sinking with 150 onboard|url=https://www.seanews.com.tr/world-s-largest-container-ship-cosco-shipping-leo-collided-and-almost-sinking-with-150-onboard/174643/|access-date=2021-04-30|website=SeaNews Turkey{{!}} International Shipping Magazine|language=en}}
= ''COSCO Shipping Virgo'' =
On 24 December 2021, the container ship COSCO Shipping Virgo sustained propulsion loss off Portugal when on route to Rotterdam. The ship was adrift for over three hours before resume the voyage.{{Cite web |date=2021-12-29 |title=COSCO's mega container ship suffers propulsion loss off Portugal |url=https://container-news.com/coscos-mega-container-ship-suffers-propulsion-loss-off-portugal/ |access-date=2022-04-14 |website=Container News |language=en-US}}
See also
References
{{Reflist}}
External links
- [http://lines.coscoshipping.com/ Official website]
{{Container shipping companies}}
{{Shipping companies of China}}
Category:Shipping companies of China
Category:Companies based in Shanghai
Category:Transport companies established in 2016
Category:Chinese companies established in 2016
Category:Government-owned companies of China
Category:Container shipping companies of China