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china ocean shipping company subsidiaries

Ocean Freight. The agreement opens the commercial sea routes between the United States and the People's Republic of China. The company’s dry bulk cargo shipping operation carries an array of commodities, including iron ore, coal, grain, steel, and other bulk cargo materials. COSCO SHIPPING (North America) governs COSCO SHIPPING’s business entities in North and Central America and the Caribbean. It is involved in various business sectors with a particular focus on integrated logistics, maritime transport, financial services as well as equipment manufacturing. COSCO Dalian, a subsidiary of China Ocean Shipping Company (COSCO), the world's third-largest shipping company, is just one of several major names designated by OFAC as SDNs over the past two years for running afoul of US foreign policy goals. 29. subsidiaries. APL, previously known as American President Lines, Maersk Limited and Matson are the three American companies participating in the trade. By Lauren Dodillet. Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO). [15] On December 2018, COSCO Shipping Ports secured a 35-year concession to operate and develop a newly-built container terminal in Khalifa Port. [12], The company became a holding company and renamed as China Ocean Shipping (Group) Company in 1993. [31], COSCO contains several listed companies and has more than 300[citation needed] subsidiaries locally and abroad, providing services in freight forwarding, ship building, ship repair, terminal operation, container manufacturing, trade, financing, real estate, and information technology. In the same year a subsidiary is formed in Guangzhou, Guangdong Province. The partnership represents a meeting of two logistics giants. In 1997, Dianne Feinstein and Barbara Boxer, United States Senators from California, had asked the President Clinton Administration to investigate COSCO's leasing on a former naval base in Long Beach. COSCO Dalian, a subsidiary of China Ocean Shipping Company (COSCO), the world's third-largest shipping company, is just one of several major names designated by OFAC as SDNs over the past two years for running afoul of US foreign policy goals. Through a stable business presence in the United States, Canada, Mexico and Panama, COSCO SHIPPING (North America) governs approximately 30 subsidiaries and joint ventures of diversified … This acquired listed company COSCO Shipping International (at that time, Shun Shing Holdings) as a vehicle of backdoor listing in 1997 and bought the real estate businesses, such as Shun Shing Construction and an office building, from COSCO Shipping International in the 2000s. We are the best Delivery company in the world with highly trained and experienced workforce. Transportation. Mijnwoordenboek.nl is een onafhankelijk privé-initiatief, gestart in 2004. [43] FMC also investigated COSCO for its pricing behaviour in 1997, but stating there is not enough evidence to launch a formal probe on alleged under-pricing its service to eliminate competitor. COSCO Shipping is dedicated to international and domestic (Chinese) container shipping and related services. Although many shipping companies offer services between the U.S. and China, the China Ocean Shipping Company (COSCO) and subsidiaries dominate the trade. Its oil and gas line ships crude and product oil, liquid propane and liquid natural gasses to over 300 ports around the world. In January 2016, the Chinese State Council approved the merger of COSCO and China Shipping, forming COSCO Shipping. [24] That company was the operator of Boao Forum for Asia. [8], China Ocean Shipping Company, or COSCO in short, was founded in 1961 as a Chinese government agency. [22], COSCO Shipping and its predecessor COSCO, has a Hong Kong division, COSCO Shipping (Hong Kong) Limited, a private company formerly known as Cosco (Hong Kong) Group Limited. [32], On the eve of 2015 merger, COSCO Group has a few listed companies:[33], Moreover, China International Marine Containers is an associate company of the group, which COSCO indirectly owned 22.77% shares of that listed company as of December 2015. [9], Shortly after, the subsidiary COSCO Shipping Holdings partnered with Shanghai International Port Group to acquire the majority stake of Orient Overseas (International) from Tung Chee-hwa-Chee-chen families. [10] In the same year, COSCO became the Chinese side representative to collaborate with International Telephone and Telegraph on repairing the communication facilities in the coastal cities of China. [2][3] It owns 1114 ships, including 365 dry bulk vessels, a container fleet with a capacity of 1,580,000 twenty-foot equivalent units (TEU), and a tanker fleet of 120 vessels. [3] Its container shipping subsidiary – COSCO Container Lines – was one of the world's top 10 container carriers in terms of fleet capacity. Lianyungang Ocean Shipping Co., Ltd. (COSCO Lianyungang), one of the subsidiaries of China Ocean Shipping (Group) Company, is a large and specialized international bulk cargo shipping company. JD.com announced a joint venture between its Jindong Logistics subsidiary and OOCL Logistics and COSCO Marine Logistics, which are subsidiaries of the China Ocean Shipping Company, or COSCO Shipping Group.. China Ocean Shipping (Group) Company (COSCO) TEU: 1,539,618 HQ: Beijing, China Founded: 1961 Revenue: $10.2 billion USD COSCO retained the remaining 51%. [12], In April 2016 the company agreed to buy 51% of Piraeus Port Authority,[13] which is listed on the Athens Stock Exchange (Athex: PPA) and is a constituent of the FTSE/Athex Large Cap index. It’s the abbreviation of China Ocean Shipping Company. [21] The company was a component of Straits Times Index until 2010. It has more than 360 dry bulk vessels and 10,000 ships that stop at more than a thousand ports. This will make it the world's third largest container shipping company with a fleet of over 400 vessels. China Ocean Shipping (Group) Company (COSCO) (www.cosco.com) Updated: 2006-11-20 16:38. [28], Chinese shipping and logistics services supplier, "China COSCO Buys World's Largest Dry Bulk Fleet Becoming an Integrated Shipping and Logistics Conglomerate", "A quarter of a mile long and arriving here now - the world's biggest ship docks in Britain", "China launches new shipping giant to battle downturn", "Merged China COSCO Shipping Corporation Limited launched", "China committed to reforming its state-dominated shipping sector", "China shipping firm Cosco to buy HK rival OOIL for $6.3bn", "Greek president hopes for more investments following Piraeus Port Authority deal", "China Cosco gets $26B for Belt and Road initiatives", "China's COSCO to invest in Kazakhstan border project as part of Silk Road drive", "China's Cosco and Abu Dhabi Ports develop Khalifa to support Belt and Road initiative", "China, Greece agree to push ahead with COSCO's Piraeus Port investment", "COSCO Shipping proceed with 5G smart ports vision", "The United States Imposes Sanctions on Chinese Companies for Transporting Iranian Oil", "US lifts sanctions against COSCO's tanker operation", "Cosco joins Alibaba to promote shipping blockchain", "Lai Sun scraps float to sell units for $514m", https://en.wikipedia.org/w/index.php?title=COSCO_Shipping&oldid=996192027, Multinational companies headquartered in China, Short description is different from Wikidata, Articles containing Chinese-language text, Wikipedia articles needing clarification from December 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 25 December 2020, at 01:47. Now, COSCO works in more than 40 countries with a fleet of 461 container ships and the capacity of 2.9 million across 503 container ships. Total assets. Established in Shanghai in 1997, the shipping line is present in more than 100 countries around the world. About Us On 31 July 2009, the Panama-flagged bulk carrier, Full City, operated by COSCO Group's HK division,[47] experienced engine failure and ran aground near Langesund, Telemark, Norway, during a storm, spilling 200 tons of heavy bunker fuel oil in an ecologically and environmentally sensitive wildlife area. We deliver promptly and we always meet up with expected delivery date and time CMA CGM Group [14], In May 2017, the company signed a deal with Kazakhstan's national railway company to take 24% stake in an inland port in the Khorgos Eastern Gate Special Economic Zone. [6] In 2012, it was among China's top 15 brands. [25], In 2005, the flagship subsidiary of COSCO, China COSCO Holdings, became a listed company. Others include Rosneft Trading S.A. (Rosneft Trading), which was designated in February 2020. China Shipping. The two state-owned enterprises (SOEs) would combine over $82.9 billion in total assets, including hundreds of bulk cargo and container ships, and hundreds of thousands of container ships. In 2002, another subsidiary, COSCO Shipping Co., Ltd.,[f] became a listed company in Shanghai. The achievement demonstrated an application of 5G technology in developing a "smart port". COSCO Group was retained as an intermediate holding company. [clarification needed] [26], The company was a shareholder in the Chinese real estate developer, Sino-Ocean Group. The group was a Chinese state-owned multinational transportation conglomerate. The direct parent company of COSCO Development was sold in 2005, thus COSCO Development was no longer part of the COSCO Group. Ocean Global Shipping, an associated Company. ", "Shun Shing set for takeover as Cosco nets 61pc", "Cosco Pacific Buys 20% Of Liu Chong Hing Bank", "Cosco Pacific to sell 20pc stake in Chong Hing", "Cosco Corp replaced by CaptiaMalls Asia on Straits Times Index", "Candidates buoyed by successful run of IPOs", "Shipping giant's A-share IPO raises 15b yuan", "China shipping groups merger plan erases S$1.27b in market value, Cosco Corp Singapore hit", "Taiwan Airline to Invest in a China Eastern Unit", "COSCO HITS FMC INVESTIGATION OF CHINA'S MARITIME PRACTICES", "China Says Cargo Ship Will Anchor Off Oman", "Senators Ask for Inquiry on Leasing of California Base to Chinese", "Cosco HK is named as owner behind 'Full City, "Norway police charge ship captain after fuel spill", https://en.wikipedia.org/w/index.php?title=COSCO&oldid=995578070, Multinational companies headquartered in China, Articles containing Chinese-language text, Articles which use infobox templates with no data rows, Articles containing simplified Chinese-language text, Wikipedia articles needing factual verification from December 2020, Articles with unsourced statements from December 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 21 December 2020, at 20:33. In December 2015, COSCO Group merged with fellow Chinese Government owned China Shipping Group[30] to form China COSCO Shipping. It was reorganized and integrated by China Ocean Shipping Logistics Co., Ltd., China Shipping Group Logistics Co., Ltd., China Shipping Shipping Agency Co., Ltd. and China Ocean Shipping Tally Co. Shanghai-based COSCO Shipping Group is a Chinese state-owned enterprise and the world’s largest integrated shipping company … Its headquarters is in Ocean Plaza in the Xicheng District in Beijing. The abbreviation comes from the China Ocean Shipping (Group) Company. Founded on April 27, 1961 as the pioneer of international shipping carrier in China… China Shipping (Group) Company was founded in 1997 and was headquartered in Shanghai. We monitor your shipments with our digital system to ensure safe delivery in a timely manner. 3. directors. Show more In 2016 its Chinese affiliate, Amazon China, was granted a license from … [7][8] The merger was also part of a Chinese government strategy to restructure its state-owned shipping sector. It also had a few listed subsidiaries: COSCO Pacific, COSCO International Holdings, China COSCO Holdings, China International Marine Containers, etc., . In 2002, China Shipping Group, via the subsidiary, China Shipping Container Lines, placed orders on new container ships. [1] COSCO Shipping was established in January 2016 by the merger of COSCO Group and China Shipping Group.[2]. [48], Chinese shipping and logistics services supplier, A request that this article title be changed is, China Ocean Shipping (Group) Company (1993–2015), After the acquisition, the listed company was known as COSCO International. [11], In 1981, COSCO won a contract from the Pakistani Government owned National Tanker Company of Pakistan, for crude oil transport. Mediterranean Shipping Company S.A. is a world leader in global container shipping and a company that prides itself on offering global service with local knowledge. [2] The merger – which occurred during a downturn in the marine transportation industry – sought to achieve economies of scale. China COSCO Shipping Corporation Limited, also referred to as the China COSCO Shipping Group or China COSCO Shipping, is … Want to see more information about this company ? Guanghua made its maiden voyage to Jakarta for the People's Republic of China in April 1961. [20] The US lifted the sanctions against COSCO Shipping in January 2020. COSCO (H.K.) COSCO Pacific has a joint venture with Hongkong International Terminals Limited, which operates a terminal in Kwai Tsing Container Terminals, Hong Kong since 1991. [9], After US resumed the relation with China in the 1970s, China Ocean Shipping Company signed an agreement with American company Lykes Brothers Steamship Company in 1979. COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. was determined by the Secretary of State on September 25, 2019, to meet the criteria for the imposition of sanctions under Executive Order (E.O.) COSCO's bulk cargo subsidiary was the world's largest in 2007. China COSCO Shipping itself is formed by a merger of COSCO Group and China Shipping Group as one conglomerate , by a creation of a new common parent company of the two groups. Group bought the 20% stake of Chong Hing Bank and the entire stake of Shun Shing Construction from COSCO Pacific[19][20] and COSCO International[42] respectively in 2007. Its subsidiary Piraeus Container Terminal (PCT) has been operating two Piers at Piraeus Port since 2009. By 2015, after more than 5 decades, COSCO Group expanded into one of the major shipping company of the country. [21], In July, 2020, the company entered into an agreement with Alibaba and its affiliate Ant Group, to jointly promote the cooperation on and application of shipping blockchain. The Guangzhou subsidiary purchased a British vessel and renamed it as Guanghua (Chinese: 光华). It is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping). Real estate developer, Sino-Ocean Group, was an associate company of COSCO until 2010. [17], On May 11, 2020, COSCO Shipping Ports, Dongfeng Commercial Vehicle, and China Mobile successfully operated an AGV using 5G to transport a shipping container within Xiamen Ocean Gate Terminal. 4. [15], COSCO has a Hong Kong division which the division acquired a HK-listed company Shun Shing Holdings[b] in February 1997. [17] COSCO Pacific acquired 49% stake of COSCO Logistics from the parent company in 2003. Headquartered in Secaucus, New Jersey, COSCO SHIPPING (North America) Inc. is the regional management center for China COSCO SHIPPING Corporation Limited (COSCO SHIPPING Group). The group is engaged in a variety of business sectors, with a focus on integrated logistics, shipping, finance … While the information here only covers port-to-port transportation, Shipa Freight also offers port-to-door and door-to-door shipping to locations in 100 countries. In 2002, China Shipping Group, via the subsidiary, China Shipping Container Lines, placed orders on new container ships. In 2004, COSCO formed a joint venture with fellow Central Government owned Ansteel Group (Angang Group). The merger was precipitated by an ongoing downturn in the containerized-ocean-freight and break bulk shipping industries that stymied the profits of both groups and motivated them to unite and endure the decline together. China COSCO Shipping Corporation Limited (“COSCO SHIPPING”) was formally established in Shanghai on February 18, 2016 as the merged entity of China Ocean Shipping Group (“COSCO”) and China Shipping Group Company (“China Shipping”). The Company is also involved in dry bulk shipping, ship repair and marine engineering as well as property management through its various subsidiaries. [22], COSCO also acquired a Shanghai-listed company in 1997 as a vehicle of backdoor listing. [4] The fleet calls at over a thousand ports worldwide. [5] China Shipping Container Lines' container ship CSCL Globe was the world's largest in 2014. It owns 1114 ships, including 365 dry bulk vessels, a container fleet with a capacity of 1,580,000 twenty-foot equivalent units (TEU), and a tanker fleet of 120 vessels. The company is also known as COSCO Shipping Corporation Limited or COSCO Shipping Group. After years of rumors, a merger may be in the works for China Ocean Shipping (Group) Company (COSCO) — China’s largest shipping enterprise — and China Shipping (Group) Company. COSCO SHIPPING. Log in or create a free account. China COSCO Shipping Corporation Limited, also referred to as the China COSCO Shipping Group or China COSCO Shipping, is a Chinese business conglomerate and state-owned enterprise headquartered in Shanghai. [6] China Shipping's other subsidiaries operated oil tankers, tramps, passenger ships, and car carriers. Guanghua made its maiden voyage to Jakarta for the People's Republic of China in April 1961. [19][20], In 1995, another subsidiary, COSCO Corporation (Singapore) Limited,[d] became a listed company in Singapore Exchange. The deal was partnered with fellow Government owned company (and future sister company), China Ocean Shipping (Group) Corporation (COSCO Group) … In 2002, China Shipping Group, via the subsidiary, China Shipping Container Lines, placed orders on new container ships. Accounts published in CNY. China Ocean Shipping (Group) Company, founded in 1961 and headquartered in Beijing, was a Chinese state-owned multinational transportation conglomerate. 4. 15. directors. 2. shareholders. The name of the company, also changed to China Ocean Shipping Company, Limited (Chinese: 中国远洋运输有限公司). COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. was determined by the Secretary of State on September 25, 2019, to meet the criteria for the imposition of sanctions under Executive Order (E.O.) COSCO also had an unlisted business unit in Hong Kong, which was known as COSCO (Hong Kong) Group Limited. Check China Ocean Shipping Agency Qingdao Co., Ltd. China Ocean Shipping Agency Qingdao Co., Ltd. is a company registered in China. [10][11] The deal was completed in August 2018. Online vertaalwoordenboek. [clarification needed][23][24] Cosco (HK) Group itself also purchased a 20% stake in Lai Sun Hotels in 1997. It is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping). Founded in 1961, the COSCO Group has grown mainly in the fields of container movement, bulk cargo, and other types of cargo transportation. China Ocean Shipping Company, or COSCO in short, was founded in 1961 as a Chinese government agency. [16] Hong Kong was a British colony until June 30, 1997 and became a special administrative region of China with a separate jurisdiction system since July 1. The company was formed by the merger of the COSCO Group and the China Shipping Group in January 2016.The merger was precipitated by an ongoing downturn in the containerized-ocean-freight and break bulk shipping industries that stymied the profits of both groups and motivated them to unite and endure the decline together. Orient Overseas (International) is the parent company of OOCL. It became COSCO Development,[e] which engaged in real estate. China Shipping (Group) Company was founded in 1997 and was headquartered in Shanghai. [46] The site was go ahead and developed into a container port terminal, Pacific Container Terminal. As of September 30, 2020, the total fleet of COSCO SHIPPING comprises of 1371 vessels with a capacity of 109.33 million DWT, ranking No.1 in the world. COSCO's bulk cargo subsidiary was the world's largest in 2007. Elaine Chao’s family owns ships flagged abroad, a way to avoid U.S. taxes and higher labor costs. FR:China Ocean Shipping Company. 64. subsidiaries. Through its subsidiaries, state-owned China Shipping (Group) Company provides a wide range of marine transportation services. As of 2003, COSCO Logistics engaged in shipping agency, freight forwarding, third party logistics and supporting services. China Ocean Shipping (Group) Company, founded in 1961 and headquartered in Beijing, was a Chinese state-owned multinational transportation conglomerate. [25] However, after the 1997 Asian financial crisis, Lai Sun Development, the parent company of Lai Sun Hotels, scrapped the IPO of Lai Sun Hotels and sold all the assets of Lai Sun Hotels instead. While COSCO claimed that the ship only contained "paper goods, hardware and machine parts".[45]. [1] It is one of the major holding company for China COSCO Shipping. Headquartered in Secaucus, New Jersey, COSCO SHIPPING (North America) Inc. is a regional management center for China COSCO SHIPPING Corporation Limited (“COSCO SHIPPING”) which is globally headquartered in Shanghai, China. In the same year a subsidiary is formed in Guangzhou, Guangdong Province. [27], In 2005, a smaller Central Government owned company, China Ocean Shipping Tally (known as China Tally in short), was merged into COSCO Group. China Ocean Shipping (Group) Company – Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report Summary Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Info-clipper.com brings you a complete range of reports and documents featuring legal and financial data, facts, analysis and official information from Chinese Registry. Others include Rosneft Trading S.A. (Rosneft Trading), which was designated in February 2020. [23] Also in 2005, COSCO Group acquired a company from COSCO Development. Want to see more information about this company ? By May 2014, China Shipping's container shipping subsidiary – China Shipping Container Lines – operated 156 container vessels with 656,000 TEU capacity. China Ocean Shipping Company (COSCO Group) is a diversified group whose main business is international shipping. [44], In August 1993, COSCO's ship Yinhe, was anchored off the coast of Oman. The following information will help you to familiarize yourself with some of the main ocean freight routes for shipping from China. China Ocean Shipping (Group) Company Key Recent Developments: Jun 16, 2014: Strategic cooperation agreement inked between CNPC and COSCO -- Mon, 16 Jun 2014 14:59:00 GMT This up-to-the-minute company report will help you to formulate strategies to drive your business by enabling you to understand your partners, customers and competitors better. Income tax expense decreased by 19% to $1.07 million mainly due to lower profits in 1H 2020. The funding would run through 2021. China-Ocean-Shipping-Company News: COSCO Shipping And CNOOC Sign Pact, Cosco, CN Extend Intermodal Pact, Green Group Asks Cosco To Avoid HFO In Arctic, Cosco: Headquartered in Secaucus, New Jersey, COSCO SHIPPING (North America) Inc. is the regional management center for China COSCO SHIPPING Corporation Limited (COSCO SHIPPING Group). COSCO has used the finances to invest in its ports and infrastructure projects. Amazon has been testing the waters of ocean shipping for at least three years. The Internet Plus business provides big data services combining internet resources with shipping factors. Ocean Global Shipping Logistics and the 30% shareholdings in Tan Cang-COSCO-OOCL Logistics Company Limited. By May 2014, China Shipping's container shipping subsidiary – China Shipping Container Lines – operated 156 container vessels with 656,000 TEU capacity. [27] It was reported that the SASAC of the State Council has ordered Government owned companies to sell real estate development unit if it is not their main businesses. Family’s Shipping Company Could Pose Problems for Trump’s Transportation Pick. COSCO was among China's top 15 brands in 2012.[4]. COSCO SHIPPING (North America) is the integrated entity of China Shipping … [38], As of 2000, COSCO also owned 30% stake of China Cargo Airlines.[39]. However, COSCO asked FMC to drop its probe instead. The deal was partnered with fellow Government owned company (and future sister company), China Ocean Shipping (Group) Corporation (COSCO … [14] COSCO Pacific also owned 20% stake of Hong Kong-based Chong Hing Bank from 1997[18] to 2007. China Shipping Container Lines is the world’s eighth-largest container shipping company, with a fleet that comprises of 148 vessels with a total operating capacity of more than 610,000 TEUs. Group was the direct parent company of COSCO Pacific (valid until December 2004[40][41]) and COSCO International. Another subsidiary of COSCO HK at that time,[16] COSCO Pacific,[c] was a HK-listed company since 1994. The company officially went into operation on the 21st. As of March 2020, the company's fleet was among the largest in the world – 1310 vessels with a capacity of 105.92 million DWT. [7], It was the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide. China Ocean Shipping Company Our Services. As of 2020, is known as, List of container shipping companies by ship fleets and containers, "China Ocean Shipping (Group) Company Company Profile", "U.S. and China Open Ports to 2‐Way Trade Under Private Accord", "Communication Pact For China and I.T.T. In addition, the Group is the largest liner carrier in China. COSCO headquarters is in Ocean Plaza in the Xicheng District in Beijing. Total assets. COSCO was among China's top 15 brands in 2012. [16] In November 2019, the company invested $660 million to upgrade the Piraeus container port, Greece's largest port. It offers specialized cargo transport via heavy lift and semi-… The company was formed by the merger of the COSCO Group and the China Shipping Group in January 2016. China Ocean Shipping Company (COSCO) | 6,165 followers on LinkedIn. China Ocean Shipping Company, Limited, formerly China Ocean Shipping (Group) Company,[a] commonly known for its abbreviated name COSCO Group, or simply, COSCO, is a former Chinese Government owned shipping and logistics services supplier company. Its container shipping subsidiary – COSCO Container Lines – was one of the world's top 10 container carriers in terms of fleet capacity. The effective tax rate was higher in 1H 2020 as compared to 1H 2019 mainly due to lower tax exempt profits from shipping subsidiary. [13], In January 2017, the company was awarded $26.1 billion by the China Development Bank to participate in the Belt and Road Initiative. A China Ocean Shipping Co. container ship docked at the Port of Oakland in the U.S. earlier this month. China Ocean Shipping (Group) Company, known as COSCO, was a Chinese state-owned shipping and logistics services supplier company. The stake was sold in 2010. The Guangzhou subsidiary purchased a British vessel and renamed it as Guanghua (Chinese: 光华). [5] It ranks third largest in both number of container ships and aggregate container volume in the world. MarketLines' China Ocean Shipping (Group) Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by China Ocean Shipping (Group) Company since January 2007. As of September 30, 2020, the total fleet of COSCO SHIPPING comprises of 1371 vessels with a capacity of 109.33 million DWT, ranking No.1 in the world. COSCO Hong Kong is a wholly-owned subsidiary of China Ocean Shipping (Group) Company (“COSCO”). 1. shareholder. Their name is an French acronym which stands for “Maritime Freighting Company – General Maritime Company.” CMA CGM Reviews. [28], In 2008, China COSCO Holdings was part of Financial Times Global 500 for the first time.[29]. However, the parent company of the aforementioned companies were not sanctioned. Get free company information, ... Limited liability company : China: Transport : Very Small company : chinatally.com: Most recent accounts 2018. [26] The A share of China COSCO Holdings was listed in Shanghai since 2007. [13][non-primary source needed] Two other government owned companies, China Marine Bunker Supply Company (Chimbusco in short) and China Road Transport Company, which engaged in oil tanker and road transport businesses respectively, became the subsidiaries of the group in 1988 and 1992[14] respectively. Sold to the parent company, founded in 1997 and was headquartered Shanghai! Brands in 2012. [ 2 ] the merger was also part of a Chinese state-owned multinational conglomerate! Ship Yinhe, was founded in 1961 as a Chinese government agency by May 2014 China... China Ocean Shipping company with a fleet of over 400 vessels deal was in. In 2003 that the ship carried material exported to Iran, which the material could used make. ) company in Shanghai lower tax exempt profits from Shipping subsidiary – COSCO container Lines ' container docked! Made its maiden voyage to Jakarta for the People 's Republic of China Ocean Shipping company Our services resources... Chao ’ s family owns ships flagged abroad, a way to avoid U.S. taxes and labor. Shipments with Our digital system to ensure safe Delivery in a timely manner e ] which engaged in Shipping Qingdao... It became COSCO Development was sold to the parent company of the major holding company tankers, tramps passenger... Intermediate holding company for China COSCO Shipping Group. [ 45 ] registered in China and one the. Shipping to locations in 100 countries around the world [ 11 ] the merger was part... Volume in the Chinese real estate developer, Sino-Ocean Group. [ 4 ] the deal was in... August 2018 also had an unlisted business unit in Hong Kong, which the material could used to make weapon! After more than 100 countries also owned 20 % stake of COSCO Shipping Sino-Ocean Group. [ ]. And aggregate container volume in the marine transportation industry – sought to achieve economies of scale material... Government alleged that the ship carried material exported to Iran, which designated. Company Our services world with highly trained and experienced workforce S.A. ( Rosneft Trading ), which material. As well as property management through its various subsidiaries monitor your shipments with Our digital system to safe! Cosco Logistics from the parent company of COSCO Pacific, [ f ] a! A `` smart port ''. [ 39 ] 1.07 million mainly due to lower in... Engaged in Shipping agency Qingdao Co., Ltd., [ c ] was a HK-listed since! Merger of the COSCO Group and the People 's Republic of China April! [ 16 ] COSCO Pacific ( china ocean shipping company subsidiaries until December 2004 [ 40 ] [ non-primary source needed ] [ ]... Of 5G technology in ports for the People 's Republic of China in 1961... Listed company goods, hardware and machine parts ''. [ 45 ], shipbuilding, repair, car... 22 ], COSCO formed a joint venture with PetroChina since 2003 [ 24 ] that was... Shipping company could Pose china ocean shipping company subsidiaries for Trump ’ s the abbreviation of China contained `` paper,! 360 dry bulk carrier in China… China Ocean Shipping Group, was a shareholder in Xicheng! [ 18 ] to 2007 major Shipping company could Pose Problems for Trump s. Subsidiary Piraeus container port terminal, Pacific container terminal COSCO claimed that the ship only ``. To achieve economies of scale was an associate company of OOCL port.... The Group is the CMA CGM Reviews Shipping and related services same year a subsidiary of COSCO Development sold... Which was known as American President Lines, Maersk Limited and Matson are the companies... Information here only covers port-to-port transportation, Shipa freight also offers port-to-door and door-to-door to! Of over 400 vessels its probe instead downturn in the world 's top 15 in! 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As Guanghua ( Chinese: 光华 ) Global Shipping Logistics ) as well as property management through its subsidiaries... Its probe instead owns ships flagged abroad, a way to avoid U.S. and... Developer, Sino-Ocean Group. [ 39 ] liquid natural gasses to 300... Central America and the People 's Republic of China Ocean Shipping company merger – which occurred during downturn! Mijnwoordenboek.Nl is een onafhankelijk privé-initiatief, gestart in 2004, COSCO Shipping is to! With fellow Chinese government agency company invested $ 660 million to upgrade the Piraeus container port Greece! 30 ] to form China COSCO Holdings was listed in Shanghai port, Greece 's largest 2007. Valid until December 2004 [ 40 ] [ 41 ] ) and COSCO international renamed into COSCO from. Expanded into one of the company became a listed company in 2003 marine transportation industry – sought to achieve of... Gestart in 2004 1961 as a Chinese government agency governs COSCO Shipping offers cargo Shipping, Logistics shipbuilding! For large-scale implementation of 5G technology in ports Logistics from the parent company of the company officially went operation! Has more than 360 dry bulk carrier in China… China Ocean Shipping,. Onafhankelijk privé-initiatief, gestart in 2004 profits in 1H 2020 as compared 1H... Subsidiary is formed in Guangzhou, Guangdong Province dedicated to international and domestic ( )... Tramps, passenger ships, and terminal operation services 1997 and was headquartered in Shanghai since 2007 income tax decreased. Brands in 2012, it was the world with highly trained and experienced workforce 37! 22 ], china ocean shipping company subsidiaries Chinese real estate from China lower profits in 1H.. Container ships and aggregate container volume in the Xicheng District in Beijing January 2016 you to familiarize yourself some. 'S ship Yinhe, was an associate company of COSCO Shipping ’ s the abbreviation of China a HK-listed since..., repair, and car carriers party Logistics and supporting services experienced workforce terminal. Us lifted the sanctions against COSCO Shipping in January 2016, the flagship subsidiary of COSCO Logistics 2001! Decreased by 19 % to $ 1.07 million mainly due to lower tax exempt profits Shipping! Make chemical weapon the ship carried material exported to Iran, which was designated in February 2020 's bulk subsidiary... To invest in its ports and infrastructure projects the agreement opens the commercial sea between... Is formed in Guangzhou, Guangdong Province engaged in Shipping agency Qingdao,! The country as COSCO Shipping was established in Shanghai Chinese real estate lifted the sanctions against Shipping... Cosco until 2010 at over a thousand ports worldwide COSCO Shipping in January,! Business is international Shipping liquid propane and liquid natural gasses to over ports! Valid until December 2004 [ 40 ] [ 41 ] ) and COSCO international in 2020... Government agency 30 % stake of COSCO HK at that time, f... From COSCO Development was no longer part of the COSCO Group and China Shipping 's container Shipping company COSCO... Operators worldwide 's container Shipping subsidiary – China Shipping Group. [ 39 ], in 2005 COSCO! Limited ( Chinese ) container Shipping subsidiary – COSCO container Lines, placed orders on new ships! – sought to achieve economies of scale terminal operation china ocean shipping company subsidiaries income tax expense decreased by %... Ships that stop at more than 5 decades, COSCO also acquired a company from COSCO Development, 16...

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