Sinotrans and CSC Holdings Co.
A logistics group, founded in 1950, mainly providing agency services for international freight forwarding by water, land and air transport. Its businesses cover water transport, air express, rail transport, international multimodal transport, auto transport, warehouse, shipping operation and management.
Sinotrans CSC Holdings has taken direct action against the West, its status as a state-owned enterprise (SOE) has drawn scrutiny from Western governments. This has led to the company being added to a U.S. Department of Defense list of companies working with the Chinese military. [PLA]
Sinotrans & CSC Holdings and China Merchants Group In December 2015, China’s State Council approved a merger between the transportation and logistics firm Sinotrans & CSC Holdings and China Merchant Group (CMG), a Hong Kong-based transportation, finance, and real estate company.74 The merger sought to optimize CMG’s shipping services and increase the scale of the company’s logistics services to better compete with global rivals.75 The deal reorganized the companies’ shipping businesses, with Sinotrans anticipated to help CMG develop its integrated logistics, energy transportation, and port businesses.76 After the merger, CMG’s assets total around $110 billion, making it the largest shipping and logistics firm in the world ahead of the second-largest firm, the Danish container shipping company A.P. Moller-Maersk, which has assets totaling $63.2 billion.77
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COSCO targeted by the Pentagon over it's ties to the People’s Liberation Army
COSCO, the world’s largest shipping company, is among a host of Chinese shipping-related names added to a list of companies the US Department of Defense views as having links to the People’s Liberation Army. While being on the Pentagon’s blacklist carries no specific penalties, it discourages US firms from dealing with these companies that Washington views as military entities.
Also on the Pentagon’s blacklist are China State Shipbuilding Corp (CSSC), the nation’s top shipbuilder, and China National Offshore Oil Corporation (CNOOC), China’s top offshore explorer. Other shipping-related firms deemed military entities by the Pentagon include China International Marine Containers (CIMC), the world’s top container manufacturer, China Communications Construction Group, a major builder of ports around the world, and Sinotrans & CSC Holdings, one of China’s top shipowners.
The last time COSCO was targeted by Washington was in 2019 when its tankers were sanctioned for a few months for carrying Iranian oil, a move that quickly saw VLCC rates spike to $200,000 a day.
In related news, reports emerged in recent days that the outgoing Joe Biden administration is readying one of its largest packages of sanctions aimed at Russia’s so-called dark fleet of tankers.
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