Directory of Central SOEs

China COSCO Shipping Corporation Limited (COSCO Shipping)

Updated: Apr 22, 2019 Print
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As of February 28, 2019, the total fleet of COSCO SHIPPING comprises of 1,274 vessels with a capacity of 101.95 million DWT, ranking No 1 in the world. Its container fleet capacity is 2.94 million TEU, ranking third in the world. Its dry bulk fleet (418 vessels/39.19 million DWT), tanker fleet (195 vessels/24.95 million DWT) and general and specialized cargo fleet (166 vessels/4.57 million DWT) are all topping the world’s list.

The company owns almost fifty container terminals all over the world, with over 190 berthing spaces. The throughput of its container terminals worldwide amounts to 90 million TEU, second in the world; the global sales volume of its ship bunker fuel exceeds 25 million tons number one in the world; its container leasing business scale surpasses 2.7 million TEU, which is the third-largest in the world; and its offshore engineering manufacturing competence and vessel agency business also lead globally.

The vision of China COSCO Shipping is to globalize the Chinese economy, consolidate advantageous resources, take global shipping, integrated logistics, and shipping-related financial services as its core businesses, and develop diversified industrial clusters, so as to mature into a world-leading business entity that provides integrated logistics and supply chain services.

Focusing on the four strategic dimensions of “scale growth, profitability, anti-cyclical capability and building a global company”, the Group highlights the “6+1” industrial clusters layout. The “6” is shipping, logistics, finance, equipment manufacturing, shipping services, and social services industrial clusters. The “1” means “Internet Plus” business based on business model innovation. This layout will help facilitate the integration of shipping factors and build a world-class logistics service provider.

Following the concept of “One Team, One Culture, One Goal and One Dream”, China COSCO Shipping Group strives to be an outstanding enterprise that is larger, more globalized, competitive and valuable, as well as a better practitioner of national initiatives, a better service provider for its customers, a better partner for its suppliers and a better career development platform for its employees.

Social responsibility

COSCO and China Shipping have established a management system and long-term mechanism for fulfilling the Global Compact and their social responsibilities. In its New Century Development Strategy initiated in 2000, COSCO explicitly established the mission of “maintaining an honest and trustful relationship with the customers, employees and partners, and maximizing the returns to the shareholders, society and environment.” During its many years of management and operation, China COSCO Shipping established multi-layer and multi-directional communication channels with its customers, employees, communities and other stakeholders based on their influence on the Group’s sustainable development, and developed a dialogue mechanism featuring mutual trust and mutual commitment to guide its social responsibility management. In this process, the two companies have also made the following positive achievements:

In 2014, COSCO formally joined the United Nations Global Compact (UNGC), the world’s largest international organization of social responsibility. The group has been actively fulfilling the principles and requirements on human rights, labor, environmental protection, anti-corruption, and related areas proposed by the United Nations and making endeavors to achieve sustainable development. Since 2006, COSCO has been publishing annual sustainable development reports, which have been rated GRI A+ for eight consecutive years. COSCO has become the only business in Asia to appear on the UNGC Sample Report List for nine years in a row.

China Shipping released its CSR reports for four consecutive years from 2011. Its reports in 2011 and 2014 respectively won the “Golden Bee 2012 Excellent CSR Reports - Leading Enterprise Award” and “Golden Bee 2015 Excellent CSR Reports - Leading Enterprise Award”. The case “Fulfilling Environmental Responsibility and Promoting Green Development” in its 2012 report was selected by SASAC as one of the “Excellent CSR Practices of Central SOEs 2013”.


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