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Container Shipping & Trade

Container Shipping & Trade

Cosco and OOCL: new numbers for the superpower

Thu 13 Jul 2017 by Rebecca Moore

Cosco and OOCL: new numbers for the superpower
Cosco will overtake Ocean Alliance partner CMA CGM in size and value of fleet with its acquisition of OOCL

The acquisition of OOCL by Cosco Shipping Holdings has catapulted the company to the top of its alliance in terms of number of vessels, size in teu and value.

Cosco and OOCL have overtaken alliance partner CMA CGM/APL and are by far the largest in the Ocean Alliance, as together they have 245 vessels at a total 2.1 million teu, with a value of US$18.8 billion, according to VesselsValue figures. This is double the size of CMA CGM/APL, which has 135 vessels at 1.09 million teu, at US$5.2 billion. Ocean Alliance partner Evergreen has 130 vessels at a total 704,949 teu, worth US$3.6 billion, says VesselsValue.

Based on existing fleet and orderbooks, the combined Cosco-OOCL entity would become the world’s third largest container carrier.

The live fleet of Cosco and OOCL will consist of 1.47 million teu, worth US$6.2 billion (VesselsValue). Together they have 30 ships on the orderbook, 25 from Cosco and five from OOCL. All five of OOCL’s vessels are ultra large container ships, at a combined total of 105,500 teu. Cosco’s orderbook contains 24 ultra large container ships at 399,000 teu.

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