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COSCO

COSCO

Industry: 
Shipping
Country: 
China
Contact Information: 
Sources: 

 

"China's COSCO Container Lines is studying the possibility of resuming operation at Iranian ports. Wu Jinping, Director General of the Chinese International Shipping Line 'COSCO', paid a visit toIran's Shaid Rajaee port, which is the largest container port in the country, Iran's IRNA news agency reported on April 28. Wu Jinping promised to talk with senior officials of the company about resuming operation at the Iranian port. China's COSCO Container Lines, the world's 5th largest international shipping company, ended its ties with Iranin June 2013. ‘All of COSCO's business to and from Iran was suspended,’ said a Shanghai-based company official, citing a company statement saying lines to Iran stopped in early June and those leaving Iran ended in early July. The loading and unloading capacity of Iran's Shahid Rajaee port currently stands at 88 million tons.” (Trend, “China’s COSCO may return to Iran,” 4/28/14)

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"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)

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"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)

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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)