[3] The merger was also part of a broader effort by the Chinese government to restructure its state-owned shipping sector. In addition, the Company will initiatively integrate internal and external resources to enhance the core competitiveness of high-quality development and improve the ability to continuously serve customers worldwide. [4], China Ocean Shipping (Group) Company, founded in 1961 and headquartered in Beijing, was a Chinese state-owned multinational transportation services conglomerate. I am pretty sure Greece is going to be on the side of the winners," he said. The net profit attributable to equity holders of the Company amounted to RMB6.76 billion, representing a year-on-year increase of RMB5.53 billion or 449.9%, and the basic earnings per share amounted to RMB0.56 per share. I am convinced about that. As of May 2020, COSCO SHIPPING Lines is the world's third largest container carrier in terms of vessel capacity, operating over 2.8 million TEU. While boosting confidence, the Company will continue to focus on high-quality development, innovative development and coordinated development, and keenly grasp opportunities in the industry to continuously optimize the Company’s international development path in the fast-changing environment. It will always take 8-9 days less for ships from the Gulf or from the East, from East Asia, to reach Europe, so I am not willing to give up this opportunity for the country," the Greek leader added. [5] Its container shipping subsidiary - COSCO Container Lines - was a member of the CKHYE container line alliance[6] and one of the world's top 10 container carriers in terms of fleet capacity. Economic growth had hit a new low since the financial crisis, and the demand growth in container shipping had slowed year-on-year. Since the beginning of 2020, facing the sudden outbreak of COVID-19, COSCO SHIPPING Holdings has actively fulfilled its social responsibilities and made every effort in the epidemic prevention and control, which effectively protected the life, health and safety of its on-shore and off-shore employees and ensured the business operation smooth and orderly. This sector consists of marine transportation services and represents COSCO SHIPPING's core business. The attendees called for enhanced cooperation between the Arab world and the European Union (EU), as well as on an international level, to address the common challenges that lie ahead. ATHENS, Nov. 9 (Xinhua) -- China's COSCO Shipping investment at Greece's largest port is a win-win project, which has transformed Piraeus into a successful port, Greek Prime Minister Kyriakos Mitsotakis said at the opening of an economic forum here on Monday. COSCO Shipping acquired the majority of Piraeus Port Authority S.A. (PPA) shares in 2016 after an international tender, while the Chinese company's subsidiary, Piraeus Container Terminal S.A. (PCT), has managed the port's container terminal since 2009. The image of Piraeus has improved with impressive results posted in recent years, as work for the port's upgrade and expansion continues. It is the listed flagship and a subsidiary of China Ocean Shipping Company, the largest integrated shipping company in China and the second largest in the world. The cargo volume of the Company’s container shipping business in emerging markets and non-China markets increased by 7.0% and 7.9% year-on-year respectively, much higher than the overall volume growth rate on the comparable basis(2.7%). The Greek leader participated in the fifth EU-Arab World Summit, which is hosted online this year due to the pandemic, along with other European and Arab leaders. On March 30, COSCO SHIPPING Holdings Co., Ltd. (“COSCO SHIPPING Holdings” or “the Company”) (SSE: 601919; HKEx: 1919) announced its 2019 annual results. Enditem, 010020070750000000000000011100001395040871. De handel in de beursgenoteerde bedrijven China Ocean Shipping Company (COSCO) en China Shipping zijn vanaf 10 augustus 2015 opgeschort. In the future, COSCO SHIPPING Holdings will continuously endeavor to build the Company as a top-tier integrated container shipping service provider, to create value and returns for customers and shareholders, and achieve win-win and common development with all parties. In 2019, global economic and trade situation faced severe challenges. The ratio of the Company’s non-China cargo volume to the total foreign trade volume increased from 35.5% in 2018 to 37.0%. "In Greece, savings go up, so I think people will be looking to spend once the pandemic is over and businesses will be looking to invest," he explained. COSCO's bulk cargo subsidiary was the world's largest in 2007. During the Period, according to China Mainland Accounting Standards, the revenue of the Company reached RMB151.06 billion, up by 25.0% year-on-year. During the Period, the Company actively responded to international environmental protection conventions, implemented the concept of green shipping, and built a sustainable business model. However, in the face of challenges, COSCO SHIPPING Holdings adhered to the guiding principle of “outperform the market, drive innovation, and lead the era” and the Ocean & Plus strategy, deeply facilitating various work including globalization, quality improvement, digitalization and end-to-end business development. In terms of coordinated development, the Company will deepen the mechanism of collaboration and integration and stick to the dual-brand operating mode. China Shipping's container shipping subsidiary - China Shipping Container Lines - operated 156 container vessels with 724,000 TEU capacity. "It is a natural entry point for goods into the eastern and central Mediterranean. The vision of China COSCO Shipping is to undertake the mission of globalizing Chinese economy, consolidate advantageous resources, take global shipping, integrated logistics, and shipping related financial services as core business, and develop diversified industrial clusters, so as to build a world-leading business entity that provides integrated logistics and supply chain services. You can't argue with geography. The Company further consolidated its foundation for global development and enhanced its ability to resist regional and periodic risks. [11] COSCO SHIPPING Lines is a member of the Ocean Alliance - a vessel-sharing alliance - along with CMA CGM and Evergreen Line. Furthermore, the Company made full use of the advantages of extensive network and resource integration capabilities to ensure the stable operation of the global container logistics supply chain based on customer-oriented philosophy. Looking forward to 2020, the Company will pay close attention to challenges brought by COVID-19 to the global economy and shipping market. [2] The merger of COSCO and China Shipping - which occurred during a downturn in the marine transportation industry - sought to achieve economies of scale. Samen komen ze op de vierde plaats, waarbij ze groter worden dan Hapag-Lloyden Evergreen Line. In 2019, COSCO SHIPPING Holdings adhered to the globalization strategy and keenly grasped opportunities in the market. Among which, COSCO SHIPPING Lines handled the shipping volume of 18,784,961 TEUs, representing a year-on-year increase of 2.3%, and Orient Overseas Container Line Limited (OOCL) handled the shipping volume of 6,954,142 TEUs, representing a year-on-year increase of 3.8%. Through the collaboration of the dual-brand fleets and the cooperation between port and shipping operations, the Company continued to improve quality and efficiency and realized synergies in various aspects, which significantly improved the Company's operating performance compared with the same period of the previous year. "In the post-COVID world, there will be winners and losers. [14], On the 3 April 2010 MV Shen Neng 1 ran aground approximately 38 nautical miles (70 km; 44 mi) east of Great Keppel Island, Australia. The Company will continue to promote industrial chain collaboration, especially the synergy between ports and shipping businesses. ATHENS, Nov. 9 (Xinhua) -- China's COSCO Shipping investment at Greece's largest port is a win-win project, which has transformed Piraeus into a successful port, Greek Prime Minister Kyriakos Mitsotakis said at the opening of an economic forum here on Monday. The other components of COSCO SHIPPING's Shipping Industrial Cluster include: On 31 July 2009, the Panama-flagged bulk carrier, Full City, operated by COSCO, experienced engine failure and ran aground near Langesund, Telemark, Norway, during a storm, spilling 200 tons of heavy bunker fuel oil in an ecologically and environmentally sensitive wildlife area. In de lijnvaart staan COSCO Container Lines en China Shipping Container Lines (CSCL) op de zesde en zevende plaats van grootste containerreders. China's COSCO Shipping investment at Greece's largest port is a win-win project, which has transformed Piraeus into a successful port, Greek Prime Minister COSCO SHIPPING is composed of seven business clusters. For the manufacturer, see, Chinese shipping and logistics services supplier, Equipment Manufacturing Industrial Cluster, "Merged China COSCO Shipping Corporation Limited launched", "China committed to reforming its state-dominated shipping sector", "China COSCO Buys World's Largest Dry Bulk Fleet Becoming an Integrated Shipping and Logistics Conglomerate", "CKYH regroups with Evergreen to fight the P3 and G6 – will CSCL be next to link up? The group's core businesses are marine transportation and stevedoring. [12] In July 2018, COSCO SHIPPING Holdings acquired Orient Overseas International Ltd., one of the world's top 10 largest container carriers.[13]. De twee grootste Chinese staatsrederijen praten over een fusie. Produced By 大汉网络 大汉版通发布系统. GSBN will be formally established and put into operation after completing all the regulatory approval procedures, while CargoSmart will provide technical solutions and platform operation services. [17], This article is about the shipping company. We want to make it the largest port in the Mediterranean," he said during a round table discussion, referring to Sino-Greek collaboration at Piraeus in the past decade. For strikingly fighting against the epidemic, the Company coped with the difficult situation to give priority to ensure the transportation of supplies for epidemic prevention and the living in the epidemic areas by providing the “Green Channel”. China COSCO Shipping Corporation Limited - abbreviated as COSCO SHIPPING - is a Chinese multinational transportation service and real estate conglomerate headquartered in Shanghai. COSCO SHIPPING Ports achieved a total throughput of 123.78 million TEUs, representing a year-on-year increase of 5.5%. As of March 2020, COSCO SHIPPING's fleet was among the largest in the world - 1310 vessels with a capacity of 105.92 million DWT. In terms of innovative development, the Company will comprehensively deepen enterprise reform and innovation, release development vitality, actively promote the construction of digital network and strengthen the capability of service integration to constantly improve management efficiency and customer experience. "It has been a good deal for COSCO, it has been a good deal for Greece... Piraeus has been transformed into a very successful port. In early 2020, all parties concerned signed the GSBN Shareholder Agreements. China COSCO Holdings Company Limited was established in the People's Republic of China in 2005. During the Period, for the “dual-brand” container shipping business, the Company handled shipping volume of 25,739,103 TEUs, up by 18.1% as compared to 2018, if on the comparable basis, representing a year-on-year increase of 2.7%. In July 2019, CargoSmart, a subsidiary of COSCO SHIPPING Holdings announced the execution of Global Shipping Business Network (GSBN) services agreements with other maritime industry operators. In terms of high-quality development, the Company will firmly advance the global route network layout and the construction of the global terminal network in order to continuously improve service quality and customer experience.