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China COSCO Shipping Corporation Limited (branded as COSCO Shipping) is a Chinese state-owned multinational marine transportation service conglomerate, headquartered in Shanghai. [2] It was established in January 2016 by the merger between China Ocean Shipping Company and China Shipping Group Company .
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. [1]: 56 [2] [3] [1] [4] Thereafter, COSCO Shanghai commenced a monthly container service running two 200 TEU container ships between Shanghai, Xingang, Sydney, and Melbourne.
COSCO (H.K.) Group was the direct parent company of COSCO Pacific (valid until December 2004 [51] [52]) and COSCO International. [46] COSCO (H.K.) Group bought the 20% stake of Chong Hing Bank and the entire stake of Shun Shing Construction from COSCO Pacific [ 28 ] [ 29 ] and COSCO International [ 53 ] respectively in 2007.
The company is formerly known as COSCO Pacific Limited and was an indirect subsidiary of COSCO and now part of its successor, COSCO Shipping. It is mainly engaged in container terminal operations, container manufacturing and leasing, shipping agency and freight forwarding. COSCO Pacific was a Hang Seng Index constituent from 2003 [2] to 2014. [3]
International Transportation Service (ITS) is an American container terminal company that deals with the receipt and shipment of containerized cargo in domestic and foreign trade. [1] It also focuses on marine cargo handling, vessel stevedoring, on-dock rail, and staffing services. [2] ITS was founded and owned by K Line until 2020. [3]
At that time, COSCO International was the second largest shareholder of Sino-Ocean Group for 16.85% stake. [14] In 2015, the ultimate parent company, COSCO, merged with China Shipping Group to become China COSCO Shipping, or known as COSCO Shipping. Thus, the listed company was renamed into COSCO Shipping International (Hong Kong) Co., Ltd.. [15]
CSCL Globe is a container ship owned and operated by COSCO Shipping and previously, China Shipping Container Lines (CSCL). The first of a class of five ships intended for Asia-Europe trade routes, [5] she was the largest container ship in the world at the time of her launch in November 2014, [6] with a maximum capacity of 19,100 twenty-foot containers.
It was known as China Shipping Container Lines (CSCL) and was among the world's largest container liner companies. It exited the container shipping business and was renamed to COSCO SHIPPING Development because of the COSCO-China Shipping merger in 2016. [1] As CSCL, the company was ranked 1503rd in 2012 edition of Forbes Global 2000. [2]