China COSCO Holdings Company Limited (SEHK: 1919,SSE: 601919) (short form "China COSCO") was established in the People's Republic of China in 2005. It is the listed flagship and a subsidiary of China Ocean Shipping (Group) Company ("COSCO Group"), the largest integrated shipping company in China and the second largest in the world.
|State-owned enterprise |
|Traded as||SEHK: 1919|
|Industry||Shipping and Logistics|
|People's Republic of China|
|Legal Representative and Chairman: Mr. Ma Zehua (马泽华)|
|Services||Container shipping, Dry bulk shipping, Third party logistics, Freight forwarding, Terminal and container leasing|
|Revenue||RMB 66,137,861,000 (2013)|
|RMB 235,470,000.00 (2013)|
Number of employees
|39,397 (as at 31 December 2013)|
China COSCO provides a wide range of container shipping, dry bulk shipping, third party logistics, freight forwarding, Terminal and container leasing domestically and internationally. It is headquartered in Shanghai.
China COSCO recorded a loss for financial years 2011 and 2012 and could face a delisting from the Shanghai Stock Exchange if it made a loss for the third consecutive year. On 27 March 2013, China COSCO recorded a profit of RMB 235.47 million for the 2013 financial year and avoided the possible delisting.
Reorganization and asset restructuringEdit
As part of the reorganization, China COSCO would sell 100% of equity interest in China COSCO Bulk Shipping (Group) Co., Ltd. to COSCO Group, representing the disposal of its dry bulk shipping business. After the reorganization, China COSCO would focus on the container shipping business.
In addition, China COSCO would buy certain amount of equity interest of a total of 30 onshore agency companies from China Shipping Container Lines ("CSCL") and its subsidiary. China COSCO would also enter into a lease agreement with CSCL, under which it would lease the vessels and containers owned or operated by the latter. After the transaction and agreement, China COSCO would acquire the container services-related assets previously owned by CSCL, and become one of the world's leading container shipping and terminal service providers.
- "Corporate Profile of China COSCO". Archived from the original on 2008-05-02. Retrieved 2008-03-29.
- COSCO Group Listed Companies
- "Major and Connected Transactions" (PDF). Hkexnews.hk. Retrieved 2016-04-30.
- China COSCO Holdings Company Limited (in English)