In 1995, another subsidiary, COSCO Corporation (Singapore) Limited, became a listed company in Singapore Exchange. In 2007 the stake was sold to the parent company, COSCO HK. COSCO Pacific also owned 20% stake of Hong Kong-based Chong Hing Bank from 1997 to 2007. COSCO Pacific acquired 49% stake of COSCO Logistics from the parent company in 2003. COSCO Pacific has a joint venture with Hongkong International Terminals Limited, which operates a terminal in Kwai Tsing Container Terminals, Hong Kong since 1991. Another subsidiary of COSCO HK at that time, COSCO Pacific, was a HK-listed company since 1994. Hong Kong was a British colony until June 30, 1997, and has been a special administrative region of China with a separate jurisdiction system since July 1. ĬOSCO has a Hong Kong division which the division acquired a HK-listed company Shun Shing Holdings in February 1997. While Chimbusco became a joint venture with PetroChina since 2003. As of 2003, COSCO Logistics engaged in shipping agency, freight forwarding, third party logistics and supporting services.
China Road Transport Company was renamed into COSCO Logistics in 2001 (now part of COSCO Shipping Logistics). Two other government owned companies, China Marine Bunker Supply Company ( Chimbusco in short) and China Road Transport Company, which engaged in oil tanker and road transport businesses respectively, became the subsidiaries of the group in 19 respectively.
The company became a holding company and renamed as China Ocean Shipping (Group) Company in 1993. China Ocean Shipping (Group) Company (1993–2015) In 1981, COSCO won a contract from the Pakistani Government owned National Tanker Company of Pakistan, for crude oil transport. In the same year, COSCO became the Chinese side representative to collaborate with International Telephone and Telegraph on repairing the communication facilities in the coastal cities of China. The agreement opens the commercial sea routes between the United States and the People's Republic of China. Īfter US resumed the relation with China in the 1970s, China Ocean Shipping Company signed an agreement with American company Lykes Brothers Steamship Company in 1979. Guanghua made its maiden voyage to Jakarta for the People's Republic of China in April 1961. The Guangzhou subsidiary purchased a British vessel and renamed it as Guanghua ( Chinese: 光华). In the same year, a subsidiary was formed in Guangzhou, Guangdong Province. History China Ocean Shipping Company (1961–1993) Ĭhina Ocean Shipping Company, or COSCO in short, was founded in 1961 as a Chinese government agency.
0 kommentar(er)
