exports of consumer goods and imports of recycled material from developed countries. On July 1, 2013, CSCL suspended all its services in Iran due to US sanctions. In 2014, CSCL along with CMA CGM and United Arab Shipping formed the Ocean Three Alliance – a business agreement to share vessel space. In December 2014, CSCL christened the 19,100 TEU CSCL Globe, the world's largest container ship at the time. By May 2014, China Shipping Container Line's service profile consisted of 40 routes including trans-Pacific, trans-Atlantic, Asia-Europe, Asia-Africa, and intra-Asia routes and a fleet of 148 container vessels totaling 656,000 TEUs. In February 2016, CSCL's parent company, China Shipping Group completed a merger with COSCO Group to form COSCO SHIPPING Group. CSCL's assets were transferred to the container shipping branch of COSCO Group, COSCO Container Lines. CSCL's shareholders approved 100% acquisition of Florens Container Lease, the container leasing subsidiary of COSCO Group and Dong Fang International Investment, the container leasing subsidiary of China Shipping Group. CSCL's shareholders also approved taking over the ship leasing subsidiary of China Shipping Group, Oriental Fleet International Ltd. As a result, CSCL was renamed COSCO SHIPPING Development Co. and became a holding company for COSCO SHIPPING's container and ship leasing business. Services The company provides container and ship leasing, container manufacturing, marine insurance brokerage, and risk management for ocean shipping companies. COSCO SHIPPING Development owns Florens Asset Management, one of the world's leading lessors of intermodal shipping containers. As of March 2020, Florens' container fleet consisted of 3.65 million TEUs. Florens leases dry containers, reefers, open-top containers, and flat racks on short- and long-term leases. Florens Asset Management was founded in 1987 and was previously a wholly owned subsidiary of COSCO Group. Florens also incorporates the container fleet of Dong Fang International Asset Management, which was owned by China Shipping Group. Fleet Accidents and incidents CSCL Jupiter On 14 August 2017, the container ship CSCL Jupiter ran aground near Bath, Netherlands shortly after departing from the port of Antwerp headed for Hamburg, Germany. The grounding resulted in the suspension of all shipping traffic to and from the port. Following the successful re-floating operation, the ship was led to the port of Antwerp, where undergo an inspection. Gallery References External links Companies listed on the Hong Kong Stock Exchange Companies listed on the Shanghai Stock Exchange Transport companies established in 1997 Container shipping companies of China Government-owned