China Ocean Shipping Group News

The U.S. Department of Defense released on the Federal Register on January 7, 2025 a "Notice of Chinese military companies operating in the United States." A trio of prominent maritime companies Cosco Shipping Holdings Co.; China State Shipbuilding Corp. and China Shipbuilding Trading Co. made the list, as "the Deputy Secretary of Defense has determined that the entities listed ... qualify as “Chinese military companies” in accordance with the William M. (Mac) Thornberry National…

China Ocean Shipping (Group) Company (Cosco Shipping) started shipment of Toyota exhibits, which will be displayed at the 1st China International Import Expo (CIIE), at Honmoku Pier, Yokohama in Japan.Cosco Shipping (Japan) and Cosco Shipping Lines (Japan) provided transport service for these exhibits, the company said in its press release.This first batch of exhibits, which are the latest models of Toyota, were loaded in flat rack containers and carried by M.V. China Shipping Tokyo from Yokohama to Shanghai.To ensure smooth transportation for this Expo, Cosco Shipping (Japan) and Cosco Shipping Lines (Japan) have customized total logistics…

Japan’s Kawasaki Heavy Industries (KHI) diverts more shipbuilding work to its joint-venture yards in China, local media says. According to a report in Nikkei, KHI will step up commercial shipbuilding in China and scale down production in Japan to improve cost competitiveness as the market rebounds from a yearslong slump. The Japanese firm plans a 50% capacity boost at a shipyard in Dalian, Liaoning Province, that builds mainly large ships, including tankers and bulk carriers. The facility is jointly operated with China Ocean Shipping (Group) Co., also known as Cosco. More than 20 billion yen ($176 million) will be invested at the site, including construction of a second dock about 550 meters long.

Shell Marine said it has been awarded China Ocean Shipping (Group) Company’s (COSCO SHIPPING) largest marine lubricants order in 2017. This order will include the full range of marine lubricants and technical services for seven out of COSCO SHIPPING’S 10 new generation Ultra Large Container Carriers (ULCCs) with capacities of approximately 20,000 TEUs each, ordered in 2015 and due to be in service from 2018-2019. Shell Marine has supplied marine lubricants and services to over 140 COSCO SHIPPING vessels since 2004.

With the aim to dominate maritime industry China has been acquiring overseas ports with huge investments which crossed USD 20 bln last year, Financial Times reported. Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power, says the report. China is aggressively pushing its  “One Belt One Road”, a grand scheme to win diplomatic allies and open markets in around 65 countries between Asia and Europe. It is pushing ahead with plans to open new shipping routes through the Arctic circle, the report said. The report quoted a study by Grisons Peak, a London-based investment bank, found that Chinese companies have announced plans to buy or invest in nine overseas ports in the year to June in projects valued at a total of $20.1bn.

Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and  Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion. The takeover will catapult Cosco the world’s third-biggest container carrier after Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Co. In a press release, the State-owned Cosco said that it will pay shareholders of OOCL,, HK$78.67 a share in cash, a 31 percent premium over the stock’s last closing price. According to Reuters,  OOIL's controlling shareholders had on Friday agreed to sell their 68.7 percent stake at that price to COSCO Shipping, which is making the offer with Shanghai Port International Group (SIPG) that will take 9.9 percent, they said.

COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut overcapacity, since the global market is unlikely to see a notable upturn anytime soon. Under the plan, its shipyards in Nantong, Zhoushan and Dongguan will be shut down. The company will keep manufacturing bases in Qidong and Dalian as they are capable of producing high-end offshore engineering products such as polar ships, oil drilling platforms and cattle carriers. A few months ago, China Cosco Shipping Group has integrated all of its shipbuilding assets into one unit – Cosco Shipping Heavy Industry (CSHI).

TTS Group announced the delivery of the first of four shipset of TTS deck equipment to COSCO Shanghai Shipyard. In April 2015, Shanghai Shipyard Co. Ltd., part of the China State Shipbuilding Corporation (CSSC), ordered various TTS deck equipment for four 28.000 DWT Multipurpose Heavy Lift Vessels. The first official hand over took place this week end. The vessels are part of the ongoing fleet extension program of China Ocean Shipping (Group) Company (COSCO). COSCO already operates eight identically constructed vessels (Da Type 3) with a maximum lifting capacity of 700t in tandem operation – the largest cranes in the fleet, all made by TTS NMF. Each ship is equipped with two heavy lift cranes of proven TTS NMF type DK II with SWL 350t and one TTS NMF type DK II SWL 100t lifting capacity.

Sino-Global Shipping America, a non-asset based global shipping and freight logistic integrated solution provider,  has announced the signing of an Inland Transportation Agreement  with COSCO Beijing International Freight Co in which COSFRE Beijing will utilize the Company's full-service logistics platform to arrange for the transport of its container shipments into US ports. In addition to the Agreement with COSCO Beijing, the Company has entered into a Strategic Cooperation Framework Agreement with Sinotrans Guangxi, a subsidiary of Sinotrans Limited. Pursuant to the Agreement with COSFRE Beijing, Sino-Global will receive a percentage…

Breakbulk carrier COSCO Shipping has rebranded as COSCO Shipping Special Transport and launched its largest semi-submersible vessel to date, the Xin Guang Hua, reports Xinhua News Agency. Xin Guang Hua, capable of carrying 100,000 tonnes of cargo, is 255 meters long and 68 meters wide. Guangzhou Shipyard International Company, the builder, delivered the ship to Cosco Shipping Specialized Carriers Co. Ltd, a member of China Ocean Shipping Group, in the southern city of Guangzhou. Semi-submersible ships are mainly used to transport large cargo such as maritime platforms and can also be used in salvage missions. Cosco Shipping Specialized Carriers Co. has eight semi-submersible ships, with loading capacity ranging from 20,000 tons to 100,000 tons.

Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn net profit seen during the same period last year as excess capacity dragged down cargo rates. China COSCO is part of China Cosco Shipping Corporation (COSCOCS), a shipping giant created earlier this year from the state-driven merger of former rivals China Ocean Shipping (Group) Company and China Shipping Group. China COSCO said in a statement that global container shipping market has been sluggish since the second half of 2015, with freight rates at record lows. While revenues rose by 2.6 per cent to Yuan29.63bn for the six months ended June, costs rose by more than 16 per cent to Yuan31.13bn.

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday. COSCO Shipping reported a first-half loss of 7.2 billion yuan ($1.08 billion yuan) versus a profit of 1.9 billion a year earlier, the company said in a filing to the Shanghai stock exchange. COSCO is grappling with weak global demand that has dragged down the sector. In the first quarter, it reported a net loss of 4.5 billion yuan. China COSCO is part of China Cosco Shipping Corporation (COSCOCS), a shipping giant created earlier this year from the state-driven merger of former rivals China Ocean Shipping (Group) Company and China Shipping Group.

EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect, with the figures acting as a price ceiling. Under the current system, they only publish the amount of the increase, not the final price. The other 13 firms are No.2 player MSC, No. 3 CMA CGM, Germany's Hapag Lloyd and Hamburg Sud…

Wärtsilä has been awarded the contract to supply newbuild Chinese container vessels with a total of 24 9-cylinder Wärtsilä 32 Auxpac generating sets. The engines will power six 21,000 TEU ships being built at the Shanghai Waigaoqiao Shipyard (SWS) for China Shipping Container Lines (CSCL). The order was placed in June with Wärtsilä's joint venture company CSSC Wärtsilä Engine (Shanghai) Co Ltd (CWEC). Because of its reliability, efficiency, and high availability the Wärtsilä 32 Auxpac engine has become a popular choice for vessels in the upper end of the shipping market. The Wärtsilä 32 is the most powerful of the company's Auxpac range of generating sets.

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday. The European Commission is likely to announce its decision next month, which means no fine or finding of wrongdoing against the companies, the sources said. Commission spokesman Ricardo Cardoso declined to comment. The case, which focuses on the way the companies announce price increases…

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday. The European Commission is likely to announce its decision next month, which means no fine or finding of wrongdoing against the companies, the sources said. Commission spokesman Ricardo Cardoso declined to comment. The case, which focuses on the way the companies announce price increases, could have repercussions for other sectors such as supermarkets and chemical firms, which use similar methods and are keen to stave off any suspicion of collusive behaviour.

Cosco Pacific Ltd. has appointed Zhang Wei as vice chairman and managing director, replacing Qiu Jinguang who has stepped down from the positions with immediate effect, reports Dow Jones. "Qiu Jinguang has resigned as an Executive Director, the Vice Chairman and Managing Director and also resigned as an authorised representative as well as the Chairman of the Executive Committee, the Investment and Strategic Planning Committee and the Risk Management Committee, and a member of the Nomination Committee and the Remuneration Committee due to work commitments, with effect from today (April 27)," says a statement from the company. Zhang, who is 42 years old and joined the Cosco Group in 1995, is currently holding directorships at certain units of China Ocean Shipping (Group) Co.

China COSCO Shipping, the result of a merger in February between the country's top two state-owned shippers, is in talks with CMA CGM and several other major operators to create a new shipping alliance, say reports in local media. Wang Haimin, China Cosco’s deputy general manager reportedly said: “We are having further discussions with some related carriers. He did not specify which carriers were involved, only noting that the new partnership was expected to serve China Cosco’s strategy to be “truly globalised” by expanding its fleet presence beyond current East-West trades to South-North and non-China related lanes. Meanwhile, Nikkei reports that China COSCO is rushing to streamline operations in line with President Xi Jinping's plan to build a new maritime economic corridor.

China Cosco Shipping plans to retain its current container alliances until they expire, after which it plans to sign a new deal, it said on Monday. The group's spokesman, Yu Zenggang, did not say when the current alliance agreements were due to expire. China COSCO , a unit of COSCO, is part of the CKYHE alliance with Kawasaki Kisen Kaisha, Yang Ming Marine Transport, Hanjin Shipping and Evergreen Marine, while China Shipping Container Lines , a unit of China Shipping Group, CMA CGM CMACG.UL and United Arab Shipping Co make up the Ocean Three alliance.

China COSCO Shipping Corporation and Vale have signed a 27-year-long agreement that will see the Chinese shipping giant carry 16 million tonnes of iron ore per year for the Brazilian miner. The agreement was signed between the two companies at a ceremony in Beijing on Friday, the Chinese company said in a statement. "The signing of the agreement marks the commencement of a new chapter of the cooperation between the two companies," it said. China COSCO Shipping Corporation was launched last month following the merger of former rivals China Ocean Shipping (Group) Company and China Shipping Group. COSCO previously had a long-term shipping deal with Vale. Reporting by Brenda Goh

Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. These empty vessels paint a grim picture for the dry bulk shipping business that veterans of the industry say is grappling with an unprecedented crisis of too many ships and not enough cargoes. The hollow boats underscore the global economic doldrums that policymakers are struggling to overcome. "This is the worst we have seen in recent times. We have been hit by a perfect storm - huge order books, China slowdown…

China Cosco Shipping (COSCOCS), China's biggest shipping line, plans to carry out a careful selection of its future vessel-sharing alliance partners, but will maintain its two current alliances for the moment, the company said on Friday. Analysts have said the global network of vessel-sharing alliances on container routes could be shaken up by recent deals, including the formation of COSCOCS through the merger of China Ocean Shipping (Group) Company (COSCO) and China Shipping Group. China COSCO , a unit of COSCO, is part of the CKYHE alliance with Kawasaki Kisen Kaisha, Yang Ming Marine Transport, Hanjin Shipping and Evergreen Marine, while China Shipping Container Lines , a unit of China Shipping Group, CMA CGM and United Arab Shipping Co make up the Ocean Three alliance.

China COSCO Shipping Corp Ltd  (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size,  is planning to deploy more resources to six new businesses. According to a report in China Daily, the shipping major will focus on logistics, industrial equipment manufacturing, financial and shipping services, investment, and operations linked to the country's "Internet Plus" development program. "New businesses such as multimodal transportation, warehouse network development…