Cosco Shipping now controls 5.2pc of all deadweight tonnage

CHINA's biggest shipping company, Cosco Shipping Group, carries 10 per cent of the world's cargo and operates over 5.2 per cent of the world's fleet by deadweight tonnage, reports Colchester's Seatrade Maritime News.

Cosco maintained its position among global shipping market ever since its merger with China Shipping six years ago.

Cosco's fleet capacity has reached 110 million deadweight tons, up 40 per cent from the pre-merger level, this represents 5.2 per cent of the global shipping capacity, which stood at 2.1 billion tonnes in 2021 according to UNCTAD. The shipping company's annual cargo volume has exceeded 1.36 billion tons, an increase of 55 per cent comparing with the pre-merger period.

"Currently, we have 18,000 seafarers navigating on the 1,265 ships globally, carrying 86.2 million tons cargos," Fu Gangfeng, general manager of Cosco Shipping Group said at a China national top brands awards ceremony.

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2022/2/26 17:27:44