COSCO SHIPPING CONTROLS 5.2% OF GLOBAL TONNAGE
China’s largest shipping corporation, Cosco Shipping Group, claims to carry one-tenth of the world’s cargo and operates over 5% of the world’s fleet by deadweight.
The Chinese giant maintained its leading position among global shipping market after the merger between Cosco Shipping and China Shipping six years ago.
Cosco Shipping Group’s fleet capacity has reached 110m dwt, up 40% from the pre-merger level, this represents 5.2% of the global shipping capacity, which stood at 2.1bn tonnes in 2021 according to UNCTAD. The shipping company’s annual cargo volume has exceeded 1.36bn tons, an increase of 55% comparing with the pre-merger period.
“Currently, we have 18,000 seafarers navigating on the 1,265 ships globally, carrying 86.2m tons cargos,” Fu Gangfeng, general manager of Cosco Shipping Group said at a China national top brands awards ceremony.
The group is actively promoting sustainable development and green shipping, which has launched an in-depth study of implementing China’s targets to achieve cargo peaking and neutrality.
Source: seatrade-maritime.com by Katherine Si
Related News
12/03/2022 2837 Views
A.P. Møller Maersk, CMA CGM Group, and Hapag-Lloyd have been asked to provide documents and information to explain the reasoning behind increased shipping rates over the past two years, according to the House Committee on Oversight and Reform on Friday
21/01/2022 2290 Views
The US Federal Maritime Commission’s decision to ask for more information from the parties proposing the P3 vessel-sharing agreement is not unexpected, given that several industry big hitters have raised concerns about the impact of the mega-alliance on container trades.
02/04/2021 2100 Views
Ketchupeffekt is the Swedish term used by the port of Gothenburg to describe the avalanche of containers set to flood European ports in the coming weeks.
main.comment_read_more