COSCO Shipping Lines

COSCO SHIPPING Lines Co., Ltd. (Chinese: 中远海运集运) is a multinational ocean container shipping company. It is the world's third largest container shipping company in terms of vessel capacity, with 3.0 million TEUs as of December 2019. It is a subsidiary of COSCO Shipping Holdings, and it's ultimate parent is China's state-owned COSCO Shipping group. COSCO SHIPPING Lines was established in 2016 by the merger of COSCO Container Lines and China Shipping Container Lines.

COSCO SHIPPING Lines Co., Ltd.
中远海运集装箱运输有限公司
TypeState-owned enterprise
IndustryMaritime transport
Founded2016
Headquarters
Shanghai
,
China
Area served
Worldwide
Key people
Yang Zhijian (Chairman)
ProductsContainer shipping
ParentCOSCO Shipping Holdings
Websitelines.coscoshipping.com

History

COSCO Shanghai division
Main article: COSCO

In April 1961 China's Ministry of Communications's the Ocean Shipping Bureau 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 would later specialize in container shipping. COSCO Shanghai was the predecessor of COSCO SHIPPING Lines.

In 1978, COSCO Shanghai's MV Ping Xiang Cheng sailed with 162 TEU from Shanghai to Sydney, Australia, which was China's first international ocean container service.[1]:56[2][3][1][4] COSCO Shanghai commenced a monthly container service running two 200 TEU container ships between Shanghai, Xingang, Sydney, and Melbourne.

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.[2]

COSCO Container Lines (COSCON)
Container ship COSCO Hamburg, San Francisco, California, 2007

In 1994 COSCO Group was restructured. COSCO Container Line Limited (COSCON), was formed in Beijing to conduct the group's container operations in collaboration with regional COSCO subsidiaries such as the Shanghai branch. In November 1997, COSCO Container Line Limited merged with COSCO Shanghai and became the sole container shipping subsidiary of COSCO Group.[2][5][6]

COSCO Container Lines opened its North American operations in Secaucus, NJ in 1993. COSCO Container Lines Americas built a large intermodal network in the US. The company invested in thousands of marine container chassis. COSCO Container Lines Americas also contracted with trucking companies and with major North American railroads.[7]

In July 2007, COSCO Container Lines 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.[8]

By December 2013, the trans-Pacific service generated the most revenue for COSCO Container Lines, RMB 14.2 million.[9] COSCO Container Lines was China's largest container line.[1]

COSCO SHIPPING Lines
COSCO SHIPPING container in transport on an intermodal freight train

In March 2016 COSCO Container Lines' parent company, COSCO Group, merged with China Shipping Group. COSCO Container Lines acquired the assets of China Shipping Container Lines, the container shipping subsidiary of China Shipping Group and China's second largest container line. COSCO Container Lines was renamed COSCO SHIPPING Lines. After the integration with China Shipping Container Lines, COSCO has 502 container ships with 3.0 million TEU. The company has 255 international routes, calling at 356 ports in 105 countries.[10] 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, MV COSCO SHIPPING Panama became the first vessel to sail through the newly widened Panama Canal.[11][12] Over 5,000 people attended the event.[13]

COSCO SHIPPING Nebula at Euromax terminal, December 17, 2019

From the late 1990s to 2016 COSCO Container Lines was a member of the CKYHE alliance, a pooling agreement to share vessel space with "K" Line, Yang Ming, Hanjin, and Evergreen. In April 2016, COSCO SHIPPING Lines left the CKYHE alliance and formed a new 5-year vessel-sharing contract, the Ocean Alliance, along with CMA CGM, OOCL, and Evergreen Line.[14][15]

On July 24, 2018, COSCO SHIPPING Lines reported a cyber attack to its operations in the United States, Canada, and South America.[16][17][18] COSCO later reported that the attack caused minimal disruption to its operations.[19]

In 2018, COSCO SHIPPING Holdings acquired Hong Kong-based OOIL, the parent of OOCL, for US$6.3 billion.[20][21] After integration with the OOCL container fleet, COSCO SHIPPING Lines became the world's third largest container line in terms of vessel capacity.

Incidents

In September 2013, COSCO Asia of COSCO Container Lines 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.[22][23]

In 2019, COSCO SHIPPING Lines was awarded “Protecting Blue Whales and Blue Skies" gold prize by several public and private agencies for voluntarily reducing the speed of its ships to 10 nautical miles or less within the San Francisco Bay Area.[24]

See also

References
  1. Zhang, Wenxian; Alon, Ilan (2010). A Guide to the Top 100 Companies in China. Singapore: World Scientific. pp. 55–59. ISBN 978-9814291460.
  2. COSCON, About UsArchived 19 August 2015 at the Wayback Machine
  3. Yang, Dong; Liu, Qing; Jiang, Liping; Zhang, Wei; Chu, Wenrong (2019). Duru, Okan (ed.). Maritime Business and Economics - Asian Perspectives. Abingdon, Oxford: Routledge. ISBN 9781138282124.
  4. Howard, Michael (2011). Transnationalism and Society - An Introduction. Jefferson, North Carolina: McFarland & Company, Inc. pp. 128–129. ISBN 978-0-7864-6454-8.
  5. COSCO, About, History Archived 25 February 2003 at the Wayback Machine
  6. Shi, Yan; Stringer, Christina; Lan Ge, Gloria (2013). Ramburuth, Prem; Stringer, Christina; Serapio, Manuel (eds.). Dynamics of International Business - Asia-Pacific Business Cases. Cambridge: Cambridge University Press. ISBN 9781107675469.
  7. Railway, Canadian National (September 4, 2019). "CN and COSCO Shipping Lines Extend Intermodal Partnership". GlobeNewswire News Room.
  8. "Container Ship Christened at COSCO". MarineLink. July 31, 2007. Retrieved December 1, 2020.
  9. "COSCON: Facts and Figures". www.coscon.com. Archived from the original on April 14, 2015.
  10. "COSCO SHIPPING Lines, About Us". Retrieved December 1, 2020.
  11. "China Cosco's Ship 1st to Sail the Expanded Panama Canal". Offshore Energy. Retrieved December 1, 2020.
  12. Labrut, Michele (June 26, 2016). "Cosco Shipping Panama starts historic transit of expanded Panama Canal". Seatrade Maritime News. Retrieved December 1, 2020.
  13. "The Inaugural Sail of M.V. COSCO SHIPPING PANAMA through the Expanded Panama Canal" (Press release). China COSCO SHIPPING Corporation. June 27, 2016. Retrieved 2020-12-01.
  14. Knowler, Greg (April 20, 2016). "Container shipping's new Ocean Alliance is born". JOC.com. Retrieved December 1, 2020.
  15. "COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line to establish OCEAN Alliance" (Press release). Shanghai. COSCO SHIPPING Lines. April 20, 2016. Retrieved 2020-12-01.
  16. "Cosco Reports Cyberattack at its U.S. Operations". The Maritime Executive. July 25, 2018. Retrieved December 1, 2020.
  17. "COSCO Shipping Lines Falls Victim to Cyber Attack". Offshore Energy. Retrieved December 1, 2020.
  18. Mongelluzzo, Bill (July 24, 2018). "Cosco responds to cyber attack on US operations". JOC.com. Retrieved December 1, 2020.
  19. Mongelluzzo, Bill (July 30, 2018). "Cosco's pre-cyber attack efforts protected network". JOC.com. Retrieved December 1, 2020.
  20. "China's Cosco Shipping Holdings completes OOCL acquisition". oevz.com. August 6, 2018. Retrieved December 1, 2020.
  21. Jiang, Jason (July 26, 2018). "Cosco completes OOCL takeover". Splash 247.com. Retrieved December 1, 2020.
  22. "Ship attack foiled in Suez Canal". Al Jazeera. September 1, 2013. Retrieved December 21, 2020.
  23. "Cosco Asia struck by RPG". Splash247.com. September 3, 2013. Retrieved December 21, 2020.
  24. "Fifteen global shipping companies slowed cargo ships for 99,000 nautical miles in 2019 program off California coast to protect blue whales and blue skies" (Press release). SANTA BARBARA CHANNEL REGION and SAN FRANCISCO BAY AREA, Calif. Air Pollution Control District, Santa Barbara County. May 19, 2020. Retrieved 2020-12-01.
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