China Ocean Shipping Company, Limited, formerly China Ocean Shipping (Group) Company, commonly known for its abbreviated name COSCO Group, or simply, COSCO, is a former Chinese Government owned shipping and logistics services supplier company. It is one of the major holding company for China COSCO Shipping. China COSCO Shipping itself is formed by a merger of COSCO Group and China Shipping Group as one conglomerate, by a creation of a new common parent company of the two groups. COSCO headquarters is in Ocean Plaza in the Xicheng District in Beijing. It owns 1114 ships, including 365 dry bulk vessels, a container fleet with a capacity of , and a tanker fleet of 120 vessels. The fleet calls at over a thousand ports worldwide. It ranks among the largest in both number of container ships and aggregate container volume in the world. In 2012, it was among China's top 15 brands. It was the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide. In addition, the Group is the largest liner carrier in China. History China Ocean Shipping Company (1961–1993) China Ocean Shipping Company, or COSCO in short, was founded in 1961 as a Chinese government agency. In the same year, a subsidiary was formed in Guangzhou, Guangdong Province. The Guangzhou subsidiary purchased a British vessel and renamed it as Guanghua (). Guanghua made its maiden voyage to Jakarta for the People's Republic of China in April 1961. After US resumed the relation with China in the 1970s, China Ocean Shipping Company signed an agreement with American company Lykes Brothers Steamship Company in 1979. The agreement opens the commercial sea routes between the United States and the People's Republic of China. In the same year, COSCO became the Chinese side representative to collaborate with International Telephone and Telegraph on repairing the communication facilities in the coastal cities of China. In 1981, COSCO won a contract from the Pakistani Government owned National Tanker Company of Pakistan, for crude oil transport. China Ocean Shipping (Group) Company (1993–2015) The company became a holding company and renamed as China Ocean Shipping (Group) Company in 1993. Two other government owned companies, China Marine Bunker Supply Company (Chimbusco in short) and China Road Transport Company, which engaged in oil tanker and road transport businesses respectively, became the subsidiaries of the group in 1988 and 1992 respectively. China Road Transport Company