COSCO Shipping Group - statistics & facts

Against the background of the continued downturn in the shipping industry, China COSCO Shipping Corporation Limited (COSCO Shipping Group) was established in 2016 by the merger of China Ocean Shipping Company (COSCO) and China Shipping Company. Headquartered in Shanghai, COSCO Shipping is a mega state-owned enterprise with a vision to help fulfill the mission of China's economic globalization. Its business is supported by three core industry clusters (shipping, port operation, and integrated logistics) and four value-added services (equipment manufacturing, shipping services, social services, and ‘Internet plus‘ business). By far, COSCO Shipping is the world's largest shipping company, with several subsidiaries under the umbrella, such as COSCO Shipping Holdings, COSCO Shipping Lines, and COSCO Shipping Ports. Furthermore, COSCO Shipping is the largest logistics service provider in China.

A challenging but profitable year

Impacted by the COVID-19 pandemic, the war in Ukraine and other regional conflicts, there were multiple periods of disruptions to the global supply chains in the last few years. The shipping industry was characterized by severe port congestion, high freight rates, excessive container dwell time inside ports, etc. However, earnings soared for most shipping giants, and COSCO Shipping Group was no exception. COSCO Shipping's operating revenue had risen by more than 94 percent, from 48 billion U.S. dollars in 2020 to 93.2 billion U.S. dollars in 2022, . All business segments recorded revenue gains, particularly in the terminal and related business. Moreover, COSCO Shipping's gross profit margin jumped from 15 percent in 2020 to more than 32 percent in 2021.

Sailing on the "Belt and Road" wave

Driven by the Belt and Road Initiative (BRI) announced by Chinese President Xi Jinping in 2013, China's imports and exports with BRI countries have grown substantially in recent years. COSCO Shipping has been promoting its business development into a new era by mainly focusing on emerging markets and strategic locations in BRI. As of December 2021, COSCO Shipping has invested 79 billion yuan (approx. 11 billion U.S. dollars) in BRI countries and established 167 container liner routes with a capacity of 1.65 million TEU of containers. The Group keeps optimizing its overseas key port networks, thus further enhancing the layout along the Maritime Silk Road. In November 2022, COSCO Shipping was awarded as the outstanding contributor at the 5th China International Import Expo.

Promoting green shipping – a net zero path by 2060

With the recent closure of the United Nations (UN) 27th Conference of Parties (COP27) in Sharm El Sheikh, Egypt, Beijing recommitted to carbon neutrality before 2060. COSCO Shipping has been actively participating in China’s response to climate change and contributing to the UN Sustainable Development Goals (SDGs), as evidenced by its large environmental investments over the past years. COSCO Shipping's greenhouse gas emissions are growing yearly, standing at 25.5 million tons in 2021. But notably, its nitrogen oxide and sulfur dioxides emissions have dropped significantly as the Group is switching to methanol, a cleaner marine fuel.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Wenyi Zhang, May 5, 2024

Key insights

COSCO Shipping Corporation Limited's revenue
93.2bn USD
COSCO Shipping Corporation Limited 's total profit
6.2bn USD
COSCO Shipping Group's employees
132.8k
Get more insights

Editor’s Picks Current statistics on this topic

COSCO Container's number of ships from February 2021 to May 2023

Maritime Transport

COSCO Container - number of ships 2021-2023

Number of employees at COSCO Shipping Holdings Co., Ltd. from 2010 to 2021

Logistics

Number of employees at COSCO Shipping Holdings 2010-2021

Annual greenhouse gas emissions of COSCO SHIPPING Lines from 2018 to 2022 (in million metric tons carbon dioxide equivalent)

Emissions

COSCO SHIPPING Lines GHG emissions 2018-2022

Further recommended statistics

Overview

4

Overview

Financials

6

Financials

Shipping capacity

5

Shipping capacity

Cargo shipments

5

Cargo shipments

Competitors

6

Competitors

Further reports

Get the best reports to understand your industry

Ocean shipping worldwide
Ocean shipping worldwide
Container shipping worldwide
Container shipping worldwide
Water transportation industry worldwide
Water transportation industry worldwide
A.P. Møller – Mærsk A/S
A.P. Møller – Mærsk A/S
Container freight rates
Container freight rates
Shipping ports in China
Shipping ports in China
COSCO SHIPPING Ports Limited 2022 Interim Report
COSCO SHIPPING Ports Limited 2022 Interim Report

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)
Email
support@statista.com

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)
Email
eu.support@statista.com

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Email
latam@statista.com

Mon - Fri, 9am - 6pm (EST)

Menu