COSCO unveils corporate reorganization

Citing the growing supply chain delays around the world and the need for greater digitalisation, COSCO Shipping Holdings, the Chinese state-run container shipping giant, has unveiled a corporate reorganisation.

In a release to the Hong Kong Stock Exchange, COSCO, which runs the world’s fourth largest liner company, said the organisational overhaul would position the company as a “global digital supply chain operation and investment platform” with a core focus on container shipping, ports and logistics.

The corporate reshuffle sees the creation of a new supply chain logistics division as well as a capital operation division.

Comparatively quiet compared to its European peers at the top of the liner leaderboard during the pandemic, sources tell Splash that COSCO is gearing up for a series of new ship orders, which will feature a raft of green technologies and close the gap with France’s CMA CGM in third place in the global carrier rankings.

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