China’s COSCO overtakes Maersk as top container shipper in Q3

Monday, 4 December 2017 00:25 -     - {{hitsCtrl.values.hits}}

Copenhagen (Reuters): China’s COSCO Shipping took the top spot in the number of container liftings in the third quarter, overtaking Denmark’s Maersk Line for the first time, data from shipping consultancy Alphaliner showed.

China’s Government is pushing to raise the country’s profile in global shipping and last year merged two State-owned firms to form COSCO Shipping, aiming to challenge the dominance of top players Maersk Line and Switzerland’s MSC.

COSCO lifted 5.49 million TEU (20-foot container units) in the third quarter, up 23% from the same period last year, surpassing Maersk’s 5.26 million TEU, according to the Alphaliner data, which was published this week.

It was unclear how much of COSCO’s activity related to inter-Chinese trade.

The fall in the number of containers handled by Maersk in the quarter, which was down 2.4% from the same period last year, was partly due to a costly cyberattack that hit its shipping and port operations in July and August.