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Founded in 1961, COSTACO now owns and operates 8 wholly-owned or holding companies. It operates 85 subordinate branches covering the main ports nationwide. China Ocean Shipping Company (COSCO), the world’s second largest shipping company in terms of capacity, bought China Ocean Shipping Tally Company (COSTACO) in 2005, in a move expected to sharpen the competitiveness of the country’s largest shipping firm. After the consolidation, the brand name of the company, together with its business coverage both at home and abroad remains the same. The merger is seen as a big step in China’s State-owned enterprises (SOEs) reform because COSCO was on the central government’s list of 30 to 50 promising large SOEs, which are being strengthened to tackle global competition. COSTACO’s business ranges from cargo measuring and weighing bulk cargo to supervising loading and unloading operations.
Founded in 1961, COSTACO now owns and operates 8 wholly-owned or holding companies. It operates 85 subordinate branches covering the main ports nationwide. China Ocean Shipping Company (COSCO), the world’s second largest shipping company in terms of capacity, bought China Ocean Shipping the Tally Company (COSTACO) in 2005, in a move expected to sharpen the competitiveness of the country’s largest shipping firm. After the consolidation, the brand name of the company, together with its business coverage both at home and abroad remains the same. The merger is seen as a big step in China’s State-owned enterprises (SOEs) reform because COSCO was on the central government’s list of 30 to 50 promising large SOEs, which are being strengthened to tackle global competition. COSTACO’s business ranges from cargo measuring and weighing bulk cargo to supervising loading and unloading operations.