Join us on

COSCO

COSCO

Industry: 
Shipping
Country: 
China
Contact Information: 
Sources: 

"China's COSCO Container Lines, the world's number 5 player, was another firm to end ties. 'All of COSCO's business to and from Iran has been suspended,' said a Shanghai-based company official, citing a company statement saying lines to Iran stopped in early June and those leaving Iran would end in early July." (Reuters, "Chinese firms drop Iran as latest U.S. sanctions bite," 07/01/2013)

 --

"China's government can follow Japan's example and provide insurance guarantees for Chinese tankers carrying Iranian oil amid Western sanctions on Iran, top shipping conglomerate COSCO Group said on Tuesday . . . 'We need to wait until the insurance issue is solved. We are pushing for a solution right now. Without insurance cover, we wouldn't dare to ship oil from Iran,' Wei Jiafu, state-owned COSCO Group's chairman, told Reuters on the sidelines of a conference.'Japan has set a precedent, we can just follow their lead.' Wei's comments, the first from a prominent Chinese firm about Iran oil shipments, suggest China's government may be considering state guarantees for its ships to enable the world's second-biggest oil consumer to keep importing Iranian crude." (Reuters, "Govt insurance a way for China to ship Iran oil-COSCO," 7/17/12)

--

Operates as a liner in Iranian ports.  (Ports and Maritime Organization: Shipping Lines which operating in Iranian Ports)

 Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Arya Padideh Hasti.  (Ports & Maritime Organization: Companies Affairs Department: Liners)