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Business Spotlight

COSCO: China's shipping giant expands its global influence

From Taiwan to Greece, state-owned group with military links is enmeshed in world trade

CHRIS HORTON, Contributing writer | China

TAIPEI -- The world's leading shippers all stopped deliveries to and from Russia after its invasion of Ukraine -- with one crucial exception. That, according to the London-based data analytics company GlobalData, was the industry's fourth-biggest player, China COSCO Shipping Corporation Ltd.

The Shanghai-headquartered group's continued transport of Russian crude oil to China provided "economic succor for Russia as it faces a barrage of economic sanctions," GlobalData analyst Sathiya Jalapathy wrote in March.

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