20220512 A Cosco Shipping container ship is seen at the Yangshan main

COSCO must steer a course through Beijing's growing confrontations with developed democracies, while still serving global trade in which China is central to both supply and demand. © AP

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

May 13, 2022 06:01 JST

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.