Brief introduction of COSCO

The introduction of COSCO

As one of the major multinational enterprises in the world, China Ocean Shipping (Group) Company (COSCO) is China’s largest and the world’s leading Group specializing in global shipping, modern logistics and ship building and repairing.

Since 1998, COSCO has identified its business strategies that are to “transform the role of the Group from a global shipping carrier to a global logistics service provider” and “transform its transnational businesses to be multinational companies”, together with the objectives of “consolidating and developing the leading status in shipping and logistics as one of the world’s top 500 companies”, putting its development on the fast, healthy and scientific track. In the new century, the COSCO has begun to yield remarkable business results. Since 2004, the COSCO has created an annual return of over 10 billion RMB, being one of the 10 most profitable central companies in China. With its US$ 15.4135 billion (122.8825 billion RMB) in annual revenue, COSCO was successfully listed as the 488th of Fortune Global 500 in 2006; in 2007, COSCO secured the 405th of the list with its US$ 20.84 billion (158.5135 billion RMB).

COSCO owns or operates a fleet of more than 800 modern merchant vessels with a total capacity of over 50 million DWT and an annual shipping volume of over 400 million tons, covering over 1,500 ports in 160 countries and territories across the globe, ranking China’s first and world’s second in general. In specific, the containers fleet ranks No.1 in China and No.6 in the world; the dry bulk fleet ranks the top in the world; the general cargo and specialized fleet such as heavylifts is among the top ones in the world; the oil tanker fleet boasts some 300,000-dwt VLCCs and ranks the first in China. Hundreds of Group members home and abroad have been networking globally in ocean shipping businesses and logistics services, with its headquarters in Beijing while radiating towards Hong Kong, Japan, Singapore, the US, Europe, Australia, Korea, South Africa and the West Asian regions, holding more than 1000 business entities in over 50 countries and territories around the world.

Now, the “COSCO” brand has been an important part of its intangible assets as the ships and containers with the “COSCO” logo on are always busy around the world, functioning as an image or symbol of China. The business prowess of the COSCO has widely recognized in the world and its best practices have been adopted by many of its counterparts.

The mission of COSCO is: ‘consolidating and developing our world leading status in shipping, logistics and ship building and repairing by maintaining a relationship of integrity and trust with our customers, employees and partners, yielding best returns for our shareholders, the society and environment.