COSCO Shipping Ports

History

COSCO Pacific Limited is a Bermuda incorporated company and was a subsidiary of China Ocean Shipping (Group) Company (COSCO). In 1994, it became a listed company in the Stock Exchange of Hong Kong (SEHK). At that time, Hong Kong is a British colony and not yet handover back to the People's Republic of China. After the 1997 handover, Hong Kong still has a separate jurisdiction apart from the Mainland China. Since COSCO Pacific was incorporated in Hong Kong but indirectly controlled by the Chinese government, the company is considered as a red chip.

COSCO Pacific, partnered with Hongkong International Terminals, operates the Terminal 8 (East) of Kwai Tsing Container Terminals since 1991. Hong Kong was once busiest container port in which Kwai Tsing Terminals is the main container port of the city.

From 1997 to 2007, COSCO Pacific was a minority shareholder (20%) of Liu Chong Hing Bank. From 2007 the stake was owned by COSCO Pacific's parent company, COSCO HK.

In 2003, COSCO Pacific is a co-investor of a phase of Qingdao Qianwan Container Terminal, for 20% shares of the SPV that carry the actual investment. In the same year, COSCO Pacific also formed a joint venture with PSA.

In 2008, COSCO Pacific made a bid for a 35-year concession to operate the container port of Piraeus. In 2016, COSCO Pacific's intermediate parent company, China COSCO Holdings, announced to make a bid of the ownership of the port.