Dry CargoGreater China

Chinese dry bulk giant launched

China Cosco Shipping Group (Coscocs), formed by the merger of Cosco Group and China Shipping Group, has established Coscocs Bulk Shipping in Guangzhou as part of its restructuring process.

The new bulk shipping arm integrates the dry bulk shipping assets of the two groups and has created the world’s largest bulker fleet totalling more than 380 vessels with total capacity of more than 34m dwt.

In terms of size, the combined bulker fleet dwarfs anything else in the world – Japan’s Kawasaki Kisen Kaisha (K Line) a distant 20m dwt behind in second place, according to data supplied to Splash from VesselsValue.com (see infographic below).

Coscocs said it will retire 53 aged vessels with a  total capacity of 2.89m dwt in the next two years to optimize capacity.

In March Coscocs launched its container shipping arm China Lines, which will become the world’s fourth largest container operator in terms of capacity.

With Coscocs’s merger near completion the landscape of Chinese maritime is now very different to a year ago. Containers and tankers for Coscocs are headquartered out of Shanghai and dry bulk out of Guangzhou. The big losers in this restructuring look like Tianjin and Hong Kong, which were previously important dry bulk centres for Cosco, and Dalian, where Cosco had its tanker division set up previously.

 

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

Comments

  1. “380 vessels with total capacity of more than 340m dwt”

    Wow… BIG SHIPS! That’s 895,000mt dwt each (on average). I’ve never seen such ships before…

    1. Sam – I just noticed that you actually work at splash247.com. Correcting a typo and making it sound like I misread the article… not cool. A simple “thanks for spotting the typo, we have corrected it” is a better approach, don’t you agree Jason?

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