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COSCO

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Not to be confused with Costco.
For the "Cosco" children's product brand, see Dorel Industries.
COSCO
中国远洋
Company typeState-owned enterprise
Public company
SEHK: 517
IndustryTransportation
FoundedApril 27, 1961
Headquarters
Ocean Plaza
Xicheng District, Beijing
,
People's Republic of China
Area served
Worldwide
Key people
Wei Jiafu, Chairman/CEO
ServicesFreight forwarding, shipbuilding, shiprepairing, terminal operations
Websitewww.cosco.com
COSCO Vancouver

China Ocean Shipping (Group) Company, known as COSCO or COSCO Group, is a Chinese shipping and logistics services supplier company.[1] 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.[2][3] 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.[4] It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world.[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.[6]

Subsidiaries

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 t DWT DWT uses unsupported parameter (help).[7]

There are seven listed companies of COSCO:

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.[8] 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.[9]

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 an ecologically and environmentally sensitive wildlife area.[10]

2010 Great Barrier Reef grounding

Main article: MV Shen Neng 1

On the 3 April 2010 MV Shen Neng 1 ran aground approximately 38 nautical miles (70 km; 44 mi) east of Great Keppel Island, Australia.[11] The ship, which was carrying 975 tonnes of heavy bunker fuel oil, began leaking oil in the Great Barrier Reef Marine Park, which is closed to commercial shipping (it had been 15 nautical miles (28 km; 17 mi) off course).[12] 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).[13]

See also

References

  1. ^ "China Ocean Shipping Group Co". Bloomberg. Retrieved 14 March 2013.
  2. ^ "Contact Us." COSCO.
  3. ^ "Donation". COSCO. May 21, 2008.
  4. ^ COSCO Group
  5. ^ "Liner market shares". BRS report for Alphaliner. 2006. {{cite web}}: Unknown parameter |month= ignored (help)
  6. ^ "China Ocean Shipping (Group) Company Company Profile". Yahoo Business. Retrieved 18 March 2013.
  7. ^ "Fleet". COSCO Group. Retrieved 4 April 2010.
  8. ^ "M/V COSCO BUSAN" (Press release). COSCO Group. 9 November 2007. Retrieved 12 May 2010.
  9. ^ MSC Venezia (IMO #9231743) at the Shipping Database
  10. ^ Wojciech Moskwa (3 August 2009). "Norway police charge ship captain after fuel spill". Reuters. Retrieved 16 May 2010.
  11. ^ Department of Transport and Main Roads (1 June 2010). "Great Barrier Reef Grounding". Queensland Government. Retrieved 4 June 2010.[dead link]
  12. ^ Aarthun, Sarah (5 April 2010). "Official: Ship aground near Great Barrier Reef was off course". CNN. Retrieved 12 October 2012.
  13. ^ "Oil Spill Ship Took Legal Reef Route". ABC News. Tuesday, 6 April 2010. Retrieved 16 May 2010. {{cite news}}: Check date values in: |date= (help)
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