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History

On June 30, 2005, the shares of China COSCO Holdings Company Limited (China COSCO: 1919 HK) began trading on the main board of the Hong Kong Stock Exchange. As one of the world's leading integrated container shipping operators, China COSCO will take this IPO as a turning point to better realize its management values of maximizing operational profits, corporate value and shareholders' return.

On March 8, 2005, People's Daily, together with www.people.com.cn, released a special report on activities of Chinese polar expedition in Antarctica under the title of 'National Flag Swaying on the Summit of Icecap'. As the largest scientific exploration in our history, China's 21st Antarctic Expedition has caught great attentions both from national Top Administrators and people from all walks of life. The primary mission of this trip is to reach the south peak of Dome A, which had been successfully achieved On January 18. Apart from that, the team also took a COSCO company flag and planted it on the summit of the South Pole, Dome A. Two swaying flags on Antarctic 'Inaccessible Pole' witnessed this great event. 

On January 21, 2005, COSCO concluded a shipbuilding contract with South Korea's Hyundai Heavy Industries Co., Ltd. (HHI) to build four 10,000 TEU class super post-panamax containerships. The vessel, which is believed so far to be the first and largest of its kind ever to be built in the world in terms of the slot capacity, measures an overall length of 349 m, 45.6 m in width and 27.3 m in depth. The first vessel in a series of four will be delivered in 2007 in accordance with the agreement. This very shipbuilding contract of COSCO and Hyundai would make history in shipping.

On July 15th, 2004, the first World Shipping (China) Summit, jointly-organized by COSCO, Drewry Shipping Consultants and Maritime China, was inaugurated in Beijing, the capital city of China. The summit with the main theme of "China Factor", has attracted more than 450 participants both from shipping and shipping-related industries. The idea of the conference was visionary and it addressed the single most burning question affecting all our markets. Therefore, it generated such intense international interest. The conference proved to be a great succeed in the end.

On March 1st, 2004, COSCO Corporation (Singapore) Ltd. was made to become one of the component stocks of the Singapore Exchange's (SGX's) main benchmark Straits Times Index (STI). It is believed to be the first State-owned enterprise in China who was listed as one of the blue chips in SGX.

On March 3rd, 2003, Mr. Zhang Fusheng, Party Secretary and Executive Vice-President of COSCO Group was voted to be the deputy of National People's Congress (NPC) and to present the first session of NPC.

On November 8, 2002, Capt. Wei Jiafu, CEO and Executive President of COSCO Group presented the 16th National Congress of CPC. In mid November, Capt. Wei was voted to take on the position as one of the members of Central Discipline Inspection Committee.

On April 18, 2002, the A share of COSCO Shipping began to exchange in Shanghai Stock Exchange, which meant the core business of COSCO Group has formally stepped into the Chinese capital market.

On January 8, 2002, COSCO Logistics Co. Ltd. put into operation in Beijing on the basis of integrated global logistics resources within the group. The reconstructed company has 8 regional subsidiaries across the nation, covering a wide range of areas from Dalian, Qingdao, Shanghai, Ningbo in Northern and Eastern China to Wuhan, Xiamen, Guangzhou in Central and Southern China.

On July 25, 2001, COSCO headquarters successfully passed the jointly on-site certification review of ISO 9001 and 2000 quality management system, ISO 14000 environment management system and OHSASI8001 occupational safety and health management system of the quality certification company of China Classification Society, Det Norske Veritas, Norway and State Occupational Safety and Health System Certification Center and became the first enterprise in China which has got "three" important management certificates.

On May 8, 2000, port of Long Beach held a grand ceremony in Hyatt Hotel in honor of the outstanding achievement made by Capt. Chen Zhongbiao, former chairman of the board of COSCO. He was awarded by LB as the Best Pilot of the Year. It is said that a total of 66 celebrities either in political arena or in shipping industry had been awarded the honor in the past, including former US president Reagan Ronald and Tong Chihua, the CEO of HKSAR.

On January 23rd, 2000, Capt. Wei Jiafu, CEO and executive president of COSCO visited Switzerland and Germany and attended the 30th World Economy Forum (WEF) in Switzerland. During the conference, COSCO was officially enrolled as a member by WEF. For the first time in history, Chinese enterprise became a member of WEF.

On March 20, 1998, Shanghai listed Zhongcheng Industry was officially renamed COSCO Development. The change in role of COSCO made it become the first shipping company in China cruising in the fiercely competitive financing market via back-listing.

On February 1st, 1998, Capt. Chen Zhongbiao, former executive president of COSCO, attended the ninth National People's Congress in Beijing. He himself therefore became the first NPC deputy within the group.

On February 1st, 1998, with the joint approval of State Economic & Trade Commission of PRC, State Administration of Taxation of PRC and Customs General Administration of PRC, COSCO Technology Center came into operation and became one of the first class technology centers nationwide.

On March 20, 1995, COSCO signed an agreement with Shanghai Hudong Shipyard for the construction of three 27,000 DWT bulk carriers and a 70,000 DWT panamax vessel. For the first time in history, COSCO placed orderbooks at home using flag of convenience via overseas financing.

On December 25, 1992, with the approval of State Development Planning Commission, State System Reform Commission and the Trade and Economics Office of State Council, China Ocean Shipping Company was renamed into China Ocean Shipping (Group) Company (COSCO Group). They also approved to make China Ocean Shipping Company as the core enterprise to construct (China Ocean Shipping (Group) Company). On February 16, 1993, COSCO group was officially set up in Beijing.

On November 29, 1988, COSCO reconstructed its joint venture in UK by purchasing the rest of shares held by its business partner and set up a wholly-own subsidiary in London. The establishment of a new COSCO UK marked the beginning of COSCO's transnational business operations in the international arena.

On June 8, 1987, a Computer-Aided Operation Center was established in COSCO Guangzhou. The implementation of the new system showed that Chinese ocean shipping operation had stepped into a new era of automation.

On April 18, 1979, MV LIU LIN HAI of Shanghai Branch launched her maiden voyage, sailing from Shanghai to Seattle. This is the first merchant ship ever arrived in the US port since the establishment of diplomatic relations between China and the United States. From then on, the Sino-US maritime transportation service was resumed which was broke down since the founding of the People's Republic of China.

In March 1979, COSCO got on with overseas contract employment business by signing an agreement with Iino Kaiun Kaisha Ltd. (IINO Lines) in Beijing. This is the first international manning cooperation ever happened in China.

On September 26, 1978, COSCO's regularly container liner business came into operation??the first of its kind in China. A containership by the name of "PING XIANG CHENG" under Shanghai Branch sailed from Shanghai with exporting goods in containers to Sydney, Australia, marking the beginning of China's international container liner service.

By the end of 1975, COSCO's fleet capacity in terms of DWT surpassed "FIVE MILLIONS" , indicating an average annual increase of one million DWT. The fact immediately attracted the attention of the industry worldwide.

In May 1967, MV DUN HUANG owned by COSCO Guangzhou launched her maiden voyage to West Europe from the port of Huangpu, marking the beginning of the first international liner service in China.

In December 1964, COSCO secured an orderbook named MV LI MING by way of bank-financing. This is the first of its kind in China running S&P business in accordance with international practice. Since then, COSCO expanded its business by sticking to the principles of "BUYING SHIPS WITH BANK LOANS, OPERATING SHIPS UNDER DEBTS, RETURNING LOANS WITH PROFITS AND ACCELERATING DEVELOPMENT", which has made a great contribution to the healthy development of national economy.

On April 27, 1961, China Ocean Shipping Company was founded in Beijing. On the same day, the Guangzhou Branch of it was established too. On April 28, a grand premier navigation ceremony for the first passenger liner "Guanghua" with the national flag of China was held in Huangpu Port, Guangzhou. Later, "Guanghua" arrived in Jakarta, Indonesia to take Chinese who were suffering there back.

On June 26, 1950, Chinese-Polish Joint Stock Shipping Company (CHIPOLBROK) came into operation in Tianjin. It is believed to be the first Joint Venture ever set up in Chinese mainland since the founding of the People's Republic of China.

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