COSCO SHIPPING Ports Limited completed its reorganisation in March 2016, becoming a pure terminals operator. This involved the (1) acquisition of China Shipping Ports Development Co., Limited and the (2) disposal of Florens Container Holdings Limited, the container leasing, management and sale business. On 22 July of the same year, the Company changed its name from COSCO Pacific Limited to COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”). The new name not only reflects the Company’s strategic goals and more focused business, but also highlights the Group’s synergies with its parent company.
COSCO SHIPPING Ports’ largest shareholder is COSCO SHIPPING Holdings Co., Ltd (Stock Code: 1919.HK), whose ultimate parent company, China COSCO Shipping Corporation Limited (“COSCO SHIPPING”), is one of the largest integrated shipping companies in the world. COSCO SHIPPING Ports benefits from the competitive advantages brought by its parent company and the synergies among COSCO SHIPPING group companies, as well as long-term support from large-scale shipping companies in China and overseas.
The Group’s terminals portfolio covers five main port regions in Mainland China, Hong Kong and Taiwan, as well as overseas hub ports. As of 31 December 2016, we operated and managed 180 berths at 30 ports worldwide, of which 158 were for containers, with a combined annual handling capacity of approximately 97.25 million TEU. The Group’s total throughput represents a global market share of approximately 13.0%, making it the world’s largest container terminals operator by this measure. The Group’s equity throughput represents a global market share of approximately 4.3%, making it the world’s fifth largest container terminals operator by this measure.
In line with our business development focus since the reorganisation, COSCO SHIPPING Ports has adopted three core strategies to enhance its competitiveness and profitability:
1. Developing a global terminals portfolio: actively seeking terminal assets on a global basis that offer good potential value and long-term returns, so as to develop a comprehensive, well-balanced global terminals network.
2. Bringing into full play the synergies with parent company COSCO SHIPPING’s container fleet and the OCEAN Alliance: fully exploiting the unique advantages arising from COSCO SHIPPING’s container fleet and seizing significant market share within the OCEAN Alliance.
3. Strengthening control and management of the ports and terminals business: further integrating our existing terminals portfolio and increasing the value of these investments through building controlling stakes; increasing our influence in entire ports through equity investments in port groups, and adopting a unified management and information system to integrate terminal operations.
COSCO SHIPPING Ports has adopted “The Ports For ALL” as its mission. In working towards this goal, we will expand our global portfolio and strive to be a leading global ports operator. Our vision is the creation of a synergistic platform that offers mutual benefits to all in the shipping industry, connecting global routes and becoming truly “the ports for all people”.
