SHANGHAI: On February 18, 2016, China COSCO SHIPPING Corporation Limited (COSCO SHIPPING), was founded as a result of the merger between China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping), and began its new voyage in Shanghai.
Over the past six years, with the corporate mission to create value and bridge dreams, COSCO SHIPPING has been providing integrated logistics service and building supply chain service ecosystem.
Leading in scale:
Continuously stay ahead in global shipping industry during the past six years.
Our fleet capacity has reached 110 million DWT, up 40% from the pre-merger level.Our annual cargo volume has exceeded 1.36 billion tons, an increase of 55% over the pre-merger period.
We ranked 231st on the Fortune Global 500 list, up 234 spots from the pre-merger ranking.
Each day, we have nearly 20,000 seafarers navigating on the sea for global trade, carrying one-tenth of the world’s cargo with one-eighteenth of the world’s fleet capacity.
We begin every voyage with expectations, and we reach every port safe and sound.
Service first:
Continously improving capability to create value for customers in the past six years.
We always adhere to our original aspiration for shipping of providing best service to customers by continuously improving our capability in total integrated logistics services.
We have achieved mutually-beneficial cooperation with our upstream and downstream strategic partners, creating values for all our partners.
Be robust and resilient:
Keep strengthening comprehensive competitiveness across the whole industrial chain in the past six years.
We have consistently deepened our industrial chain operation, with an ever-improving full industry chain system of shipping logistics.
Our dual brands strategy has yielded great outcomes through the successful acquisition of OOCL; by taking over Singamas, we have achieved stable supply of containers for our liner business.
We have also optimized the business structure, with the share of non-cyclical assets surpassing 50%, and the overall risk resistance capability has been continuously strengthened.
Global operation:
A historical leap forward towards building a global enterprise through 6 years’ efforts.
The percentage of our overseas assets, revenue and profit has achieved 57%, 59% and 63% respectively.
We have built a three-dimensional transportation corridor of “shipping + port + logistics” and invested a total of 64.2 billion yuan in the Belt and Road countries to promote global connectivity.
The Port of Piraeus in Greece has emerged as the largest port in the Mediterranean, and the China-Europe Land-Sea Express has become the third largest logistics corridor for China-Europe trade.
Contributing to the stability of the global supply chain since the outbreak of the pandemic
To cope with the impact of the COVID-19 pandemic, COSCO SHIPPING has deployed an additional capacity of 47 vessels with 6.76 million DWT since 2020, with the weekly capacity of trans-Pacific container liners increasing by 26% year on year; we manufactured approximately 1.8 million TEUs of new containers in 2021, and launched 30 dedicated liners and trains on major service routes for small and medium-sized direct customers, making every effort to ease the tension in the global logistics supply chain and to facilitate global economic development.
Digital innovation:
empowering the shipping industry in a new era
We actively promote digital transformation to fully achieve intelligent shipping, intelligent ports and intelligent manufacturing, injecting “the power of intelligence” into the shipping industry.
We have worked to build a big data integration platform to enhance our global resource allocation capability.
We established the Global Shipping Business Network (GSBN), which issued the world’s first blockchain bill of lading to promote paperless cargo release, cutting the time for cargo to be document ready for release from 24-48 hours to less than four hours.
Green development:
Drawing a “net zero” blueprint to promote a new industry ecosystem
We advocate sustainable development and promote green shipping.We have launched an in-depth study on the path of implementing China’s targets to achieve carbon peaking and carbon neutrality.We have built and delivered the world’s first LNG-powered VLCC.We promote the use of shore power at terminals and have completed China’s first full life-cycle “carbon neutral” oil project.
Fulfill social responsibility:
Continuously enhance brand image during the past six years.
We have been supporting the revitalization of rural areas, with a total investment of 700 million yuan.
COSCO SHIPPING Charity Foundation has implemented 754 charity projects, with a total donation amount reaching 986 million yuan.
During the pandemic, we donated 42 batches of goods to overseas customers, partner organizations and local communities in more than 20 countries. We carried a total of 1 billion tons of goods and materials, including iron ore, coal, crude oil, and LNG, to ensure the stability of transportation.
In order to ensure the safety of our seafarers and protect their rights, we have worked hard to arrange the shifts of crew onboard. Since March 2020, more than 10,000 ships involving 100,000 seafarers at home and abroad have changed shift.
Pursuing progress on a steady basis:
Leading the way into future with high-quality development All of these impressive figures and numbers that make us proud cannot be achieved without the dedication of 135,000 COSCO SHIPPING employees.
In 2021, we achieved the leap from the strategy of developing “6+1” industrial clusters to “3+4” industrial clusters. On a new journey into the future, we will seek progress on a steady basis while continuing to promote high-quality development and ride the waves to excelin future development.
