COSCO
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| COSCO 中国远洋 |
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| Type | State-owned enterprise |
| Founded | April 27, 1961 |
| Headquarters |  Beijing, China |
| Area served | People's Republic of China |
| Key people | Chairman: Mr. Wei Jiafu |
| Industry | Shipping and Logistics |
| Services | Freight forwarding, Shipbuilding, Shiprepairing, Terminal Operations |
| Website | COSCO |
China Ocean Shipping (Group) Company (abbreviated as COSCO) is one of the largest liner shipping companies serving companies all over the world. It is a government owned company of the People's Republic of China.
According to the company, it owns over 130 vessels (with a capacity of 320,000 twenty-foot equivalent units (TEU) and calls on over 100 ports worldwide.[1]
It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world.[2]
The Group contains 6 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 IT. The Group owns and operates a variety of merchant fleet of some 600 vessels with total carrying capacity of up to 35 million metric tons of deadweight (DWT).[citation needed]
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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[edit] San Francisco Bay disaster
On 7 November 2007, shortly after being warned that it was off course, the COSCO Busan hit the western tower of the San Francisco Bay Bridge.[3] The impact ripped a hole in the vessel and spilled 58,000 gallons of fuel oil into San Francisco Bay. Damage was extensive. All beaches and islands in the bay were contaminated and closed to the public, hundreds of birds and other wildlife were killed and there was wide-ranging economic impact. The annual crab fishing season was canceled and all sport fishing was halted.[4]
On 11 November, COSCO released a statement that the COSCO Busan was owned and operated by a non-affiliated company. [5]
[edit] Trading as
There are totally 7 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
[edit] See also
[edit] References
- ^ COSCO Group
- ^ Liner market shares. BRS report for Alphaliner (January 2006).
- ^ Attorney said pilot told Coast Guard his course was OK
- ^ Fishermen vote to close crabbing
- ^ COSCO Group
[edit] External links
