COSCO

Not to be confused with Costco.

For the "Cosco" children's product brand, see Dorel Industries.

COSCO
中国远洋

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

COSCO Vancouver

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.

Subsidiaries

There are seven listed companies of COSCO:

• Hong Kong: COSCO Pacific Ltd.
• Hong Kong: COSCO International Holdings Ltd.
• Hong Kong: China COSCO Holdings Co. Ltd. (H shares)
• Shanghai: China COSCO Holdings Co. Ltd. (A shares)
• Shenzhen: China International Marine Containers (Group) Co. Ltd.
• Shenzhen: China International Marine Containers (Group) Co. Ltd. (B shares)
• Singapore: COSCO Corporation (Singapore) Limited
• Japan: COSCO Container Lines Japan Co., Ltd.

Incidents and accidents

2007 San Francisco Bay oil spill

Main article: COSCO Busan oil spill

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]

2009 Norway oil spill

Main article: Full City oil spill

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]

2010 Great Barrier Reef grounding

Main article: MV Shen Neng 1

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]

See also

Companies portal

• Shipping industry of China
• List of oil spills

References

1. ^ "Contact Us." COSCO. Retrieved on May 3, 2010.
2. ^ "Donation." COSCO. May 21, 2008. Retrieved on May 3, 2010.
3. ^ COSCO Group
4. ^ "Liner market shares". BRS report for Alphaliner. January 2006. http://www.brs-paris.com/newsletters/liner_studies/no29/. 
5. ^ "Fleet". COSCO Group. http://www.cosco.com/en/fleet/index.jsp. Retrieved 4 April 2010. 
6. ^ "M/V COSCO BUSAN" (Press release). COSCO Group. 9 November 2007. http://www.cosco.com/en/news/detail.jsp?docId=9915. Retrieved 2010-05-12. 
7. ^ MSC Venezia (IMO #9231743) at the Shipping Database
8. ^ Wojciech Moskwa (3 August 2009). "Norway police charge ship captain after fuel spill". Reuters. http://www.reuters.com/article/latestCrisis/idUSL391060. Retrieved 16 May 2010. 
9. ^ Department of Transport and Main Roads (1 June 2010). "Great Barrier Reef grounding". Queensland Government. http://www.msq.qld.gov.au/About-us/Msq-headlines/Great-Barrier-Reef-grounding.aspx. Retrieved 4 June 2010. ^{[dead link]}
10. ^ Aarthun, Sarah (5 April 2010). "Official: Ship aground near Great Barrier Reef was off course". CNN. http://www.cnn.com/2010/WORLD/asiapcf/04/04/australia.chinese.ship/index.html. Retrieved 4 June 2010. 
11. ^ "Oil spill ship took legal reef route". ABC News. Tuesday, 6 April 2010. http://www.abc.net.au/news/stories/2010/04/06/2865487.htm. Retrieved 16 May 2010. 

External links

• China Ocean Shipping (Group) Company
• COSCO North America, Inc.
• COSCO (Singapore) Pte. Ltd
• Analysis of COSCO Terminal at Pier J