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Coscocs chairman Xu launches Cosco Shipping Lines Central America and Panama

Cosco China Shipping Group Chairman Xu Lirong has launched the new lines of business of the company: Cosco Shipping Lines (Central America) Inc and Cosco Shipping lines (Panama) Inc, in Panama.

Michele Labrut, Americas Correspondent

June 29, 2016

1 Min Read
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The launch took place one day after the opening of the expanded canal with the transit of the Cosco Shipping Panama.

Panama Canal Authority (ACP) Administrator Jorge Quijano said the merger of these two great companies –Cosco and China Shipping - will allow them to climb one or two places up from the 8th position as a client of the Panama Canal.

“Now that the vessels of China Shipping are added to those of Cosco, the new company will step up the customer ranking of the Panama Canal and will bring larger ships to the country,” he said.

The company China Cosco Shipping Group wants to deploy ships of 14,000 teu through the expanded canal, and these vessels are under construction, Quijano said.

The merger of the two largest Chinese shipping lines will makes COSCOCS the fourth largest in the world with a market share of 7.7% according to figures from Alphaliner.

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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