| Type | State-owned enterprise |
|---|---|
| Industry | Shipping and logistics |
| Founded | April 27, 1961 |
| Headquarters | Ocean Plaza Xicheng District, Beijing, People's Republic of China |
| Area served | Worldwide |
| Key people | Wei Jiafu, Chairman/CEO |
| Services | Freight forwarding, shipbuilding, shiprepairing, terminal operations |
| Website | www.cosco.com |
China Ocean Shipping (Group) Company, known as COSCO or COSCO Group, is one of the largest liner shipping companies worldwide. It is a government owned company of the People's Republic of China. Its headquarters is in Ocean Plaza in Xicheng District, Beijing.[1][2]
According to the company, it owns over 130 vessels (with a capacity of 600,000 twenty-foot equivalent units (TEU)) and calls on over 1,000 ports worldwide.[3] It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world.[4]
The Group contains six listed companies and has more than 300 subsidiaries locally and abroad, providing services in freight forwarding, ship building, ship repair, terminal operation, container manufacturing, trade, financing, real estate, and information technology. The Group owns and operates a fleet of around 550 vessels, with total carrying capacity of up to 30 million metric tons deadweight (DWT).[5]
They are 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.
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There are seven listed companies of COSCO:
M/V COSCO Busan was not owned, operated, or in any way controlled by COSCO Group or any of its subsidiary companies.[6] Shortly after the vessel struck the San Francisco – Oakland Bay Bridge, she was sold by her owners, Fleet Management Ltd., and rechristened, MSC Hanjin Venezia.[7]
On 31 July 2009, the Panama-flagged bulk carrier, Full City, operated by COSCO, experienced engine failure and ran aground near Langesund, Telemark, Norway during a storm, spilling 200 tons of heavy bunker fuel oil in a sensitive wildlife area.[8]
On the 3 April 2010 MV Shen Neng 1 ran aground approximately 70 km (38 NM) east of Great Keppel Island, Australia.[9] 975 tonnes of heavy bunker fuel oil was on board and oil leaked from the ship. The ship was 15 nautical miles (17 mi) off course and in the Great Barrier Reef Marine Park, which is closed to commercial shipping.[10] The Australian Maritime Safety Authority has revealed that a shipping plan was lodged for Shen Neng 1 to travel between Douglas Shoal and the Capricorn Group, where there is a gap of 6 nautical miles (11 km; 6.9 mi).[11]
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