COSCO Shipping Development Co., Ltd., stylized as COSCO SHIPPING Development is a financial services company based in Shanghai, China. It was known as China Shipping Container Lines (CSCL) and was among the world's largest container liner companies. It exited the container shipping business and was renamed to COSCO SHIPPING Development because of the COSCO-China Shipping merger in 2016. As CSCL, the company was ranked 1503rd in 2012 edition of Forbes Global 2000. History In 1997, the Chinese government founded China Shipping Group as a SOE. That same year, China Shipping Container Lines Co. Ltd (CSCL) was founded in Shanghai as a subsidiary of China Shipping Group. After China joined the WTO in 2001, CSCL grew rapidly, playing a major role in supporting China's economic advancement and international trade. With continued support from the Chinese government, CSCL's global TEU market share increased 126% between 2000 and 2006, becoming the second fastest growing container carrier in the world. In 2004, CSCL became the world's tenth largest ocean container line in terms of TEU capacity, and in 2007, it became the world's sixth largest. In 2005, CSCL was named the “World’s Most Profitable Container Liner Company” by the journal American Shipper. In 2007 and again in 2008, Long Beach Port Authority awarded CSCL the 'Honor of Environmental Protection'. In 2009, CSCL was awarded the 'Best Annual Carrier' by Michaels Stores. In China, CSCL had in-house trucking companies, a container yard, and the company called on 12 Chinese seaports and several riverports. The company owned assets in dozens of countries. Over the years, CSCL developed a large intermodal network in the US by contracting with trucking companies and all major US railroads. In May 2001, CSCL, Marine Terminal Corporation, and BNSF Railway announced a twice-weekly on-dock train service to deliver China Shipping containers from the Port of Los Angeles to Chicago, IL. CSCL first went public in 2004 on the Hong Kong Stock Exchange, issuing 2.42 billion shares. CSCL made another IPO in 2007 on the Shanghai Stock Exchange. CSCL's early successes were credited to the leadership of Captain Li Kelin. In 2006, after Kelin retired, Li Shaode – who had 40 years of experience in the shipping industry – was appointed chairman of CSCL. Shaode along with other veteran members of the leadership team continued CSCL's tradition of success. As China increasingly became the world's factory, CSCL played a significant role in transporting