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The newly created COSCO Shipping Lines has 502 container ships with 3.0 million TEU. The company has 255 international routes, calling at 356 ports in 105 countries., [10] COSCO SHIPPING Lines has ordered several mega-ships, such as the 20,000 TEU COSCO Shipping Taurus and the 21,000 TEU Universe-class container ships.
China COSCO Shipping Corporation Limited (branded as COSCO Shipping) is a Chinese state-owned multinational marine transportation service conglomerate, headquartered in Shanghai. [2] It was established in January 2016 by the merger between China Ocean Shipping Company and China Shipping Group Company .
At that time, COSCO International was the second largest shareholder of Sino-Ocean Group for 16.85% stake. [14] In 2015, the ultimate parent company, COSCO, merged with China Shipping Group to become China COSCO Shipping, or known as COSCO Shipping. Thus, the listed company was renamed into COSCO Shipping International (Hong Kong) Co., Ltd.. [15]
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In 2003, COSCO Pacific is a co-investor of a phase of Qingdao Qianwan Container Terminal, for 20% shares of the SPV that carry the actual investment. [9] [10] In the same year, COSCO Pacific also formed a joint venture with PSA. [11] In 2008, COSCO Pacific made a bid for a 35-year concession to operate the container port of Piraeus.
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