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Shipping Liner Insight #5: COSCO

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In the first of five insights into the biggest shipping liners in the world, PTI looks at the fifth largest liner in the world, China Ocean Shipping Company (COSCO).

Founded on April 27, 1961 in Beijing, COSCO is China’s largest shipping company and according to the organisation’s website, its ships now call at over 1,600 ports globally to a total of 160 countries with a total fleet of 160 vessels.

COSCO’s first container liner began operations in 1978, which was the first of its kind in China.

Under its Shanghai branch, the first containership entitled ‘Ping Xiang Cheng’ sailed from Shanghai to Sydney, Australia, marking the beginning of China's international container liner service.

As of February 10, 1981, the company began to expand its global network by opening container liner routes between China and America.

Shipping Liner Insight #5: COSCO. (Source: Ship Spotting)

This was marked by its Ro-Ro ship ‘Zhangjiakou’, first sailing from Shanghai to Port San Francisco along the US West Coast.

By 1995, the shipping company was beginning to expand its global network, by opening up companies in Korea and Japan.

April 18, 2002 saw the company’s footing onto the Shanghai Stock Exchange, which meant the core business of COSCO Group had formally stepped into the Chinese capital market.

Shipping Liner Insight #5: COSCO. (Source: M.Opinion.Li)

On July 9, 2008, COSCO Group, with an annual revenue of US$20.84 billion, was placed number 405 on the Fortune 500.

By July 8, 2013, COSCO Group, with an improved annual income of US$28.74 billion, climbed four places to reach 401 on Fortune’s 2012 global top 500 list of companies.

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