{{Short description|Hong Kong-based port operator}} {{Infobox company | name = COSCO Shipping Ports Limited | logo = COSCO_Shipping_Logo.svg | logo_caption = Company logo | former_name = COSCO Pacific Limited | type = State-owned enterprise (Red chip)<br/>Public company | traded_as = {{HKEX|1199}} | foundation = {{start date and age|1994|7|26|df=yes}}<ref name=Register/> | founder = | location = {{aligned table|Hong Kong, China|(''de facto'')|Hamilton, Bermuda|(registered office)}} | key_people = | area_served = {{ubl|Worldwide}} | industry = Shipping and Logistics | products = | services = Port operator | revenue = | operating_income = | net_income = | num_employees = | parent = China COSCO Shipping (via COSCO Shipping Holdings) | divisions = | subsid = | owner = COSCO Shipping Holdings (47.26%) | homepage = {{Official URL}} }} '''COSCO Shipping Ports Limited''', stylized as '''COSCO SHIPPING Ports''' is a Hong Kong listed company and investor in ports. The company is formerly known as '''COSCO Pacific Limited''' and was an indirect subsidiary of COSCO and now part of its successor, COSCO Shipping. It is mainly engaged in container terminal operations, container manufacturing and leasing, shipping agency and freight forwarding.
COSCO Pacific was a Hang Seng Index constituent (blue chip) from 2003<ref>{{cite news|url=https://edition.cnn.com/2003/BUSINESS/06/09/hk.index.biz/|title=New pair join Hang Seng index|date=9 June 2003|accessdate=14 December 2020|website=CNN.com}}</ref> to 2014.<ref name=notbluechip2014>{{cite news|url=https://www.reuters.com/article/hongkong-hangseng-review-idUKL4N0SX1S320141107|title=Link Real Estate added to Hang Seng Index, COSCO Pac to be removed|date=7 November 2014|accessdate=14 December 2020|website=Reuters.com}}</ref> COSCO Pacific also a red chip company so that it once considered as a purple chip company.
==History== COSCO Pacific Limited is a Bermuda incorporated company<ref name=Register>{{cite web|url=http://www.roc.gov.bm/roc/rocweb.nsf/public+register/c+public+companies|title=Review of Companies Register|accessdate=14 December 2020|publisher=Bermuda Registrar of Companies|archive-date=29 October 2017|archive-url=https://web.archive.org/web/20171029134120/https://www.roc.gov.bm/roc/rocweb.nsf/public+register/c+public+companies|url-status=dead}}</ref> and was a subsidiary of China Ocean Shipping (Group) Company (COSCO). In 1994, it became a listed company in the Stock Exchange of Hong Kong (SEHK). At that time, Hong Kong is a British colony and not yet handover back to the People's Republic of China. After the 1997 handover, Hong Kong still has a separate jurisdiction apart from the Mainland China. Since COSCO Pacific was incorporated in Hong Kong but indirectly controlled by the Chinese government, the company is considered as a red chip.<ref name=red>{{cite web|url=https://www.hkex.com.hk/Market-Data/Statistics/Consolidated-Reports/China-Dimension?sc_lang=en&select={55AE8A39-A5A2-4489-95E1-21E30BDEAFD7#select1=0&select2=1|title= List of Red Chip Companies |date=30 November 2020|accessdate=14 December 2020|publisher=Hong Kong Exchanges and Clearing}}</ref>
COSCO Pacific, partnered with Hongkong International Terminals, operates the Terminal 8 (East) of Kwai Tsing Container Terminals since 1991.<ref>{{cite web|url=https://www.hit.com.hk/en/About-Hit/Milestones.html|title=Milestones|date=2020|accessdate=14 December 2020|publisher=Hongkong International Terminals}}</ref> Hong Kong was once busiest container port in which Kwai Tsing Terminals is the main container port of the city.
From 1997<ref>{{cite news|url=https://www.wsj.com/articles/SB869000250345617000|title=Cosco Pacific Buys 20% Of Liu Chong Hing Bank|date=July 16, 1997|accessdate=December 19, 2020|newspaper=The Wall Street Journal|url-access=limited}}</ref> to 2007, COSCO Pacific was a minority shareholder (20%) of Liu Chong Hing Bank. From 2007 the stake was owned by COSCO Pacific's parent company, COSCO HK.<ref>{{cite news|url=https://www.scmp.com/article/605415/cosco-pacific-sell-20pc-stake-chong-hing|title=Cosco Pacific to sell 20pc stake in Chong Hing|date=August 25, 2007|accessdate=December 19, 2020|newspaper=South China Morning Post|location=Hong Kong}}</ref><ref>{{cite report|url=http://www.chbank.com/en/pdf/2008/chbank_annual_report_2008_eng.pdf|title=Annual Report 2008|date=2009|accessdate=December 19, 2020|publisher=Chong Hing Bank}}</ref>
In 2003, COSCO Pacific is a co-investor of a phase of Qingdao Qianwan Container Terminal, for 20% shares of the SPV that carry the actual investment.<ref>{{cite report|url=https://ports.coscoshipping.com/en/Investors/IRHome/FinancialReports/pdf/03ar.pdf|title=2003 Annual Report|publisher=COSCO Pacific|accessdate=14 December 2020|date=2004|page=40}}</ref><ref>{{cite news|url=http://news.xinhuanet.com/newscenter/2003-07/21/content_986081.htm|script-title=zh:中国青岛港前湾码头将建成中国最大集装箱码头|work=Xinhuanet|publisher=Xinhua News Agency|date=2003-07-21|accessdate=2010-03-28|language=zh-cn|archiveurl=https://web.archive.org/web/20030810030716/http://news.xinhuanet.com/newscenter/2003-07/21/content_986081.htm|archivedate=2003-08-10|url-status=dead}}</ref> In the same year, COSCO Pacific also formed a joint venture with PSA.<ref>{{cite web|url=https://www.mot.gov.sg/news-centre/news/Detail/Speech%20By%20Mr%20Yeo%20Cheow%20Tong%20At%20The%20Opening%20Ceremony%20Of%20COSCO-PSA%20Terminal%20Pte%20Ltd%20on%202%20December%202003/|title=Speech By Mr Yeo Cheow Tong At The Opening Ceremony Of COSCO-PSA Terminal Pte Ltd on 2 December 2003|date=2 December 2003|author=Yeo Cheow Tong|author-link=Yeo Cheow Tong|accessdate=14 December 2020|publisher=Ministry of Transport|location=Singapore}}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
In 2008, COSCO Pacific made a bid for a 35-year concession to operate the container port of Piraeus.<ref>{{cite news|url=https://www.ft.com/content/265ac59e-325f-11dd-9b87-0000779fd2ac|title=Cosco set to control Greek port|date=5 June 2008|accessdate=14 December 2020|newspaper=Financial Times|url-access=limited|first1=Robert|last1=Wright|first2=Kerin|last2=Hope|first3=Robin|last3=Kwong}}</ref><ref>{{cite news|url=https://www.reuters.com/article/coscopacific-ports-idUSHKG34384420080611|title=COSCO Pac says Greek port bid variance due to accounting|date=11 June 2008|accessdate=14 December 2020|website=Reuters.com}}</ref> In 2016, COSCO Pacific's intermediate parent company, China COSCO Holdings, announced to make a bid of the ownership of the port.<ref>{{cite news|url=https://www.freightwaves.com/news/cosco-to-purchase-majority-stake-in-piraeus-port|title=COSCO to purchase majority stake in Piraeus port|date=21 January 2016|accessdate=14 December 2020|website=freightwaves.com}}</ref>
In March 2016, COSCO Pacific's joint venture, COSCO-PSA Terminal, announced to expand the shipping terminal at Pasir Panjang, Singapore.<ref>{{cite news|url=https://www.straitstimes.com/business/companies-markets/cosco-and-psa-ink-mega-terminal-deal|title=Cosco and PSA ink mega terminal deal|date=29 March 2016|accessdate=14 December 2020|newspaper=The Straits Times|first=Grace|last=Leong}}</ref>
In July 2016, COSCO Pacific announced it plans to change its name to COSCO Shipping Ports Limited. The decision is linked to a merger and major reorganization of China Shipping Group and COSCO Group earlier in 2016.<ref>{{cite news|url=http://splash247.com/cosco-pacific-changes-name/|title=Cosco Pacific changes name|accessdate=14 December 2020|date=19 July 2016|website=splash247.com}}</ref>
COSCO Shipping ports built the Port of Chancay in Peru, the opening of which was celebrated during a November 2024 state visit by CCP General Secretary Xi Jinping to Peru.<ref name=":0">{{Cite news |last=Baptista |first=Eduardo |last2=Aquino |first2=Marco |last3=Elliott |first3=Lucinda |date=15 November 2024 |title=Starting Latin America trip, Xi Jinping Opens Huge Port in Peru Funded by China |url=https://www.reuters.com/world/chinas-xi-arrives-lima-apec-open-pacific-megaport-2024-11-14/ |work=Reuters}}</ref> Chancay port is part of the Belt and Road Initiative.<ref name=":0" /> Xi described the port as the beginning of a new maritime-land corridor between China and Latin America.<ref name=":0" />
==Shareholders== COSCO Shipping Ports is a listed company. As of November 2020, the market capitalization is HK$17 billion<ref name=red/> (Not yet free-float adjusted).
{{as of|2019|12|31}}, fellow listed company COSCO Shipping Holdings is the parent company of COSCO Shipping Ports. COSCO Shipping Holdings (via subsidiaries "COSCO Investments" and "China COSCO (Hong Kong)") owns 47.26% shares of COSCO Shipping Ports.<ref>{{cite report|chapter-url=https://doc.irasia.com/listco/hk/coscoship/annual/2019/ar2019.pdf|title=2019 Annual Report|chapter=Report of the Directors|page=108|publisher=COSCO Shipping Ports|date=2020|accessdate=14 December 2020|via=irasia.com}}</ref> COSCO Shipping Holdings is in turn parented by China Ocean Shipping Company (COSCO) and ultimately, China COSCO Shipping (COSCO Shipping). COSCO Shipping is one of the entity that was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council,<ref>{{cite web|url=http://www.sasac.gov.cn/n4422011/n14158800/n14158998/c14159097/content.html|script-title=zh:央企名录|date=5 June 2020|accessdate=14 December 2020|publisher=SASAC of the State Council|language=zh-cn|archive-date=12 August 2022|archive-url=https://web.archive.org/web/20220812124302/http://www.sasac.gov.cn/n4422011/n14158800/n14158998/c14159097/content.html|url-status=dead}}</ref> making COSCO Shipping Ports qualifies for one of the criteria of red chip (another criterion is incorporated outside Mainland China, which COSCO Shipping Ports does).<ref>{{cite news|url=https://www.ft.com/content/3eb37b46-8321-11e7-94e2-c5b903247afd|title=Chinese stocks get unified Hong Kong treatment|date=17 August 2017|accessdate=14 December 2020|newspaper=Financial Times|first=Jennifer|last=Hughes}}</ref>
COSCO Shipping Ports was a former constituents of Hang Seng Index, the blue chip index, until 2014,<ref name=notbluechip2014/> as well as Hang Seng China-Affiliated Corporations Index, formerly an index for notable red chips, until September 2020.<ref>{{cite web|url=https://www.hsi.com.hk/static/uploads/contents/en/indexes/hisConstituent/hscci/hist_hscci.xlsx|title=Historical Change of Constituents (2008-)|date=14 August 2020|accessdate=14 December 2020|publisher=Hang Seng Indexes|format=Microsoft Excel}}</ref>
== Port assets == As of 31 December 2023, COSCO SHIPPING Ports operated and managed terminals at 38 ports globally.<ref>{{Cite web |title=COSCO SHIPPING Ports Limited |url=https://ports.coscoshipping.com/en/Businesses/Portfolio/ |access-date=2025-03-19 |website=ports.coscoshipping.com}}</ref> {| class="wikitable sortable" !City !Country !Port (Terminal) !Ownership |- |Abu Dhabi |{{Flag|United Arab Emirates}} |Khalifa Port (CSP Abu Dhabi Terminal) |40% |- |Antwerp |{{Flag|Belgium}} |Port of Antwerp (Antwerp Terminal) |20% |- |Bilbao |{{Flag|Spain}} |Port of Bilbao (CSP Bilbao Terminal) |39.51% |- |Busan |{{Flag|South Korea}} |Port of Busan (Busan Terminal) |4.23% |- |Chancay |{{Flag|Peru}} |Port of Chancay (CSP Chankay Terminal) |60% |- |Dalian |{{Flag|China}} |Port of Dalian (Dalian Container Terminal) |19% |- |Dalian |{{Flag|China}} |Port of Dalian (Dalian Dagang Terminal) |35% |- |Guangzhou |{{Flag|China}} |Port of Guangzhou (Guangzhou Nansha Stevedoring Terminal) |40% |- |Guangzhou |{{Flag|China}} |Port of Guangzhou (Guangzhou South China Oceangate Container Terminal) |39% |- |Hamburg |{{Flag|Germany}} |Port of Hamburg (Container Terminal Tollerort) |24.99% |- |Hong Kong |{{Flag|China}} |Port of Hong Kong (Asia Container Terminal) |60% |- |Hong Kong |{{Flag|China}} |Port of Hong Kong (COSCO - HIT Terminal) |50% |- |Istanbul |{{Flag|Turkey}} |Kumport Port (Kumport Terminal) |26% |- |Jeddah |{{Flag|Saudi Arabia}} |Jeddah Islamic Port (Red Sea Gateway Terminal) |20% |- |Jingjiang |{{Flag|China}} |Port of Jingjiang (Jingjiang Pacific Terminal) |80% |- |Jinzhou |{{Flag|China}} |Port of Jinzhou (Jinzhou New Age Terminal) |51% |- |Kaohsiung |{{Flag|Taiwan}} |Port of Kaohsiung (Kao Ming Container Terminal) |20% |- |Lianyungang |{{Flag|China}} |Port of Lianyungang (Lianyungang New Oriental Terminal) |55% |- |Nantong |{{Flag|China}} |Port of Nantong (Nantong Terminal) |51% |- |Ningbo |{{Flag|China}} |Port of Ningbo (Yuan Dong Terminal) |20% |- |Piraeus |{{Flag|Greece}} |Port of Piraeus (Piraeus Container Terminal) |100% |- |Port Said |{{Flag|Egypt}} |East Port Said (Suez Canal Container Terminal) |20% |- |Qinhuangdao |{{Flag|China}} |Port of Qinhuangdao (Qinhuangdao New Harbor Terminal) |30% |- |Qinzhou |{{Flag|China}} |Port of Beibu Gulf (Beibu Gulf Terminal) |30.32% |- |Quanzhou |{{Flag|China}} |Port of Meizhou Bay (Quanzhou Pacific Terminal) |82.35% |- |Rotterdam |{{Flag|Netherlands}} |Port of Rotterdam (Euromax Terminal) |17.85% |- |Seattle |{{Flag|United States}} |Port of Seattle (Seattle Terminal) |13.33% |- |Shanghai |{{Flag|China}} |Port of Shanghai (Shanghai Mingdong Terminal) |20% |- |Shanghai |{{Flag|China}} |Port of Shanghai (Shanghai Pudong Terminal) |30% |- |Singapore |{{Flag|Singapore}} |Port of Singapore (Cosco-PSA Terminal) |49% |- |Taicang |{{Flag|China}} |Port of Taicang (Taicang Terminal) |39.04% |- |Tianjin |{{Flag|China}} |Port of Tianjin (Tianjin Container Terminal) |51% |- |Vado Ligure |{{Flag|Italy}} |Port of Vado Ligure (Vado Terminal) |40% |- |Valencia |{{Flag|Spain}} |Port of Valencia (CSP Valencia Terminal) |51% |- |Wuhan |{{Flag|China}} |Port of Wuhan (CSP Wuhan Terminal) |84.94% |- |Shenzhen |{{Flag|China}} |Yantian Port (Yantian Terminal Phase I & II) |14.59% |- |Shenzhen |{{Flag|China}} |Yantian Port (Yantian Terminal Phase III) |13.36% |- |Yingkou |{{Flag|China}} |Port of Yingkou (Yinhkou Container Terminal) |50% |- |Yingkou |{{Flag|China}} |Port of Yingkou (Yinhkou New Century Terminal) |40% |- |Xiamen |{{Flag|China}} |Port of Xiamen (Xiamen Ocean Gate Container Terminal) |100% |- |Zeebrugge |{{Flag|Belgium}} |Port of Zeebrugge (CSP Zeebrugge Terminal) |90% |}
==References== {{Reflist}}
==External links== * {{official website}} {{Shipping companies of China}} {{Portal|Companies}}
{{authority control}}
{{DEFAULTSORT:Cosco Shipping Ports}} Category:Companies listed on the Hong Kong Stock Exchange Category:Shipping companies of China Category:Port operating companies Category:Former companies in the Hang Seng Index Category:COSCO Shipping