China Ocean Shipping (Group) Company (COSCO Group or COSCO) is a large global enterprise group focusing on international shipping, modern logistics and ship-building and ship-repairing. With a worldwide leading position in comprehensive strength, COSCO Group is China's largest international shipping, logistics, ship-building and ship-repairing enterprise group.
In 1998, COSCO Group decided the business strategy of "transformation from a global shipping carrier to a shipping-based global logistics business" and "transformation from global operation to a global company", and the strategic goals of "developing and consolidating the leading position in shipping and logistics to be included into the Global 500óand "generating RMB10 billion revenues annually and building a century-old COSCO". Now COSCO's development is on the fast, stable, healthy and scientific track. The operation effects are being reflected step by step in this new century. Since 2004, COSCO's annual economic benefits have been over RMB10B, becoming one the top 10 state-owned enterprises by profit contribution. The US-based Fortune magazine announced its latest Global 500 listing on the website www.cnnmoney.com. COSCO Group was ranked 488th with sales revenues of USD15.4135 billion (RMB122.8825 billion) in 2006.
COSCO owns and operates over 800 modern merchant vessels, over 50 million deadweight tons (as of Oct. 2007) and annual shipping amount of 400 million tons. COSCO's shipping lines cover over 1,500 ports in more than 160 countries and regions, and its fleet size ranks first in China and second in the world. COSCO is positioned the first in China and the sixth in the world by the fleet size, also the first in the world by dry bulk fleet. The group is in a leading position by the comprehensive strength in special general cargo ships and special ships for super-large and super heavy cargos in the world. The oil tanker fleet boasts of several 300,000-ton oil tanks, ranking first in China. (Source: Clarkson)
For the logistics, COSCO rapidly introduces the leading comprehensive logistics concept with its powerful shipping strength in the world, fully pushing up the fast development of the logistics in such fields as home appliance, automobile, electricity, chemistry, pharmaceuticals and exhibition. It has been on the top of the China top 100logistics enterprises for three years in a row.
COSCO's port business develops fast. Currently, it has participated into 23 terminal investment projects worldwide with 119 berths. It ranks 5th by the annual throughput.
With regard to the ship-repairing, COSCO has multiple large ship-repairing bases in Dalian, Zhoushan, Nantong, Shanghai and Guangzhou that are domestically leading and highly recognized in the world. The group owns and operates various docks including 300,000-ton floating docks, enabling a leading position in both China and the world by both production capacity and production management.
In terms of the ship-building, Nantong COSCO KHI Ship Engineering is China's first large ship-building venture that set the highest records in terms of such indicators as productivity of entire employees, profit tax per capita, productivity of ship-building and electricity consumption per USD10,000 production. It is a leading and world-class shipyard in China.
Based on the ocean shipping and the global logistics with hundreds of members at home and abroad, COSCO forms a global business network covering 9 major regions including Hong Kong, Japan, Singapore, US, Europe, Australia, South Korea and West Asia with Beijing as the center. COSCO has over 1,000 enterprises and operations in more than 50 countries and regions.
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As on the domestic enterprises that entered the international capital markets, COSCO currently controlled or has stakes in 7 listed companies including China COSCO Holdings Company Limited (China COSCO), COSCO Corporation, COSCO Pacific Limited, COSCO International, COSCO Shipping Co. Ltd, CMIC and China Merchants Bank. China COSCO was included into the Hang Seng Mainland Composite Index as soon as it went public, while COSCO Pacific (Hong Kong) and COSCO Corporation (Singapore) were listed in the blue chips in the international capital markets thanks to their outstanding performance.
Now the COSCO brand has become an important intangible asset of the COSCO Group. Ships and containers with the COSCO logo are running around the world, becoming an image representative of China. COSCO's performance has been recognized by the whole world and a lot of experience created by COSCO has set an example for numerous enterprises. |
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| Executive Vice President Zhang Fusheng met guests from Rotterdam, Netherland. |
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