China Shipping Container Lines

China Shipping Container Lines Co., Ltd
Native name
 中海集装箱运输股份有限公司
Public
Traded as
Industry Shipping and Logistics
Founded 1997
Headquarters Shanghai, People's Republic of China
Area served
Key people
 Chairman: Mr. Li Shaode
Services
Parent China Shipping Group
Website China Shipping Container Lines

China Shipping Container Lines Co., Ltd (CSCL), (SEHK: 2866, SSE: 601866) a division of China Shipping Group (China Shipping), is a containerized marine shipping company, based in Shanghai, China.

On October 2015, CSCL entered advanced merger talks with its larger government-owned compatriot, COSCO. By late December 2015, the two announced a formal merger after regulatory and anti-trust approval. It was made clear that CSCL will withdraw it's involvement in the container shipping business and cease to operate as a carrier; instead it is destined to become a container leasing and financial/asset management company. Meanwhile, COSCO is expected to takeover as the sole operator of the vessel fleet. The merged mega-entity; COSCOCS, is expected to become the world's third largest container carrier in terms of vessel capacity by 2018 and its new container line: China line; will become operational by late 2016.[1][2][3]

Corporate affairs

CSCL, established in 1997, provides fully containerized marine and intermodal freight transport, storage, and electronic data interchange services worldwide. The company has grown rapidly; it is now the eighth largest container shipping company having recently acquired a minority interest in Asia Pacific Marine Container Lines of Canada. Its fleet comprises over 150 vessels, boasting a total operating capacity of 600,000 twenty-foot equivalent units (TEU).[4] As of 2013, the container shipping market is still characterized by overcapacity, and decreasing prices for new ships. CSCL and United Arab Shipping Company cooperate on the Asia-Europe-Asia line, and both companies have ordered 5 ships bigger than the Maersk Triple E class. Delivery is to begin in 2014 from Hyundai Heavy Industries.[5][6] As of 2014, CSCL and UASC entered a new partnership, dubbed the Ocean Three alliance, alongside the French CMA CGM.[7]

The company calls on ports across the world, and more than 30 ports from South China to North China in its domestic coastal business. It also operates container yards and trucks, international cargo agencies, and terminal facilities in many countries. North American freight services include refrigerated cargo carriage in the line's own reefer container fleet, as well as other specialized cargo container services.

China Shipping container

Gallery

See also

References

  1. ↑ http://www.newsmaritime.com/2016/china-cosco-shipping-corporation-established-the-merged-container-operator-china-lines/
  2. ↑ http://www.joc.com/maritime-news/container-lines/china-shipping-container-lines/china-cosco-shipping-aims-become-third-largest-container-line_20160222.html
  3. ↑ http://www.joc.com/maritime-news/cscl-plan-exit-box-business-raises-o3-alliance-question_20151213.html
  4. ↑ "Company Profile". CSCL. Retrieved 6 January 2013.
  5. ↑ "UASC places US$1.4B boxship contract" World Cargo News, 30 August 2013. Accessed: 1 September 2013.
  6. ↑ "Vessel ordering mania – why?" Container Insight Weekly, 30 June 2013. Accessed: 1 September 2013.
  7. ↑ "Shipping Industry Consolidation Set to Continue, Says CMA CGM Executive" Wall Street Journal, 3 December 2014. Accessed: 12 December 2014.

External links

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