China Cosco Holdings

By: EconomyWatch   Date: 17 July 2010

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China Cosco Holdings Company Limited is a company engaged in liner shipping and other associated businesses like container leasing and terminal services. It conducts its maritime operations through COSCO Container Lines Company Limited (COSCON). China Cosco Holdings is ranked number 951 on 2008 Forbes Global 2000 list.
China Cosco Holdings is second largest amalgamated shipping company in the world. It is listed in Hong Kong (SEHK: 1919) stock exchange.

Brief history
China Cosco Holdings was founded on 27th April, 1961. Its initial name was China Ocean Shipping Company. First ship order 'MV Li Ming' was acquired in 1964. China Cosco fleet capacity exceeded 5 million DWT capacity in 1975. Container business was regularized in 1978. A Computer Aided Operation Center was established by COSCO Guangzhou in 1987. A British subsidiary was set up in London in 1988. China Ocean Shipping Company was renamed China Ocean Shipping (Group) Company [COSCO Group] in 1992. China Cosco Holdings was listed in Hong Kong Stock Exchange in 2005.

Products and services
China Cosco Holdings has expertise in container shipping, logistics, dry bulk shipping, container leasing, container manufacturing and terminals. China Cosco operates a total of 144 container vessels. Total capacity is 417,315 TEUs. Ships travel to more than 40 countries and touch in excess of 120 ports. 12 international feeder routes, 74 international routes and 17 PRC coastal service routes are met by China Cosco Holdings.

Integrated logistics services are also provided by China Cosco Holdings. This is done through its subsidiary, COSCO Logistics Co. Ltd. China Cosco Holdings has invested in 24 terminal projects all over world. This makes it 5th biggest terminal operator in globe.

China Cosco Holdings has 16.23% share in China International Marine Containers (Group) Co. Ltd (CIMC). CIMC is presently biggest container manufacturer in the world. It has 50% of global market share.

Financials
Revenues of China Cosco Holdings was RMB 70,482,130,000 in 2007. Operating profit was RMB 18,948,788,000. Basic earnings per share was RMB 1.4802. China Cosco Holdings employs32,851 persons.

Awards and recognition
China Cosco Holdings was awarded 'The Most Outstanding Individual in Promoting the Use of IT in PRC Enterprises' in election awards of Top 500 Enterprises in 2006. IR magazine awarded COSCO Pacific with 'Best Investor Relation' award the same year. China Cosco Holdings was ranked first in transport and logistics sector of Top 1,000 Global Chinese Business Enterprises List in Asia Magazine.


Current financial crisis
China Cosco Holdings suffered a steep decline in its order books due to global financial decline. A large number of ships idled at docks due to paucity of goods for transport.


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