COSCO Group
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COSCO headquarters in Beijing
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| State-owned enterprise | |
| Industry | Transportation |
| Fate | Merged |
| Successor | China COSCO Shipping |
| Founded | April 27, 1961 |
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Area served
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Worldwide |
| Services |
Freight forwarding shipbuilding shiprepairing terminal operations |
| Website | en |
China Ocean Shipping (Group) Company (Chinese: 中国远洋运输（集团）总公司), known as COSCO or COSCO Group, is a Chinese shipping and logistics services supplier company. It is a government-owned company of the People's Republic of China. Its headquarters is in Ocean Plaza in the Xicheng District in Beijing. It owns more than 130 vessels (with a capacity of 600,000 twenty-foot equivalent units (TEU)) and calls on over a thousand ports worldwide. It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world. In 2012, it was among China's top 15 brands.
It is 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.
In February 2016, the COSCO Group merged with China Shipping Group to form China COSCO Shipping.
COSCO contains seven 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. It owns and operates a fleet of around 550 vessels, with total carrying capacity of up to 30 million metric tons deadweight (DWT).
There are seven listed companies of COSCO:
In April 2016 COSCO agreed to buy 51% of Piraeus Port Authority, which is listed on the (: ) and is a constituent of the FTSE/Athex Large Cap index. COSCO's subsidiary Piraeus Container Terminal (PCT) has been operating two Piers at Piraeus Port since 2009.
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Wikipedia