Chinese shipping firm's US job-creation story

Boston, the largest city in New England, has outperformed many other US cities in job creation. The unemployment rate in Boston metropolitan area stood at 5.9 percent in August 2012, lower than the national average level of 8.1 percent in the month, figures from the US Labor Department revealed.

"It was a strong commitment made then by our company. COSCO might suffer some immediate-term economic losses, but the company could get many long-term gains. It's beneficial to both sides," said Liu Hanbo, president of COSCO Americas, Inc, and a veteran seaman.

Culture blending

COSCO's direct service from Asia to the Port of Boston was a prime example of experiment in business and mutual understanding. In the past three decades, COSCO Americas, incorporated in 1982, has established a modern logistics service network covering the American continent with 25 weekly liner services connecting the Americas with other parts of the world.

In Hartigan's perspective, COSCO and Boston are like family members, as the Chinese shipping firm, business and the Port of Boston have forged three-way friendship.

"Not only did COSCO save jobs that are going to be lost in Boston, but COSCO created jobs in Secaucus and other cities. More important, people in Boston and other US cities got the chance to learn more about China. It was the beginning of a great experiment," Hartigan said. "What began as an experiment in ocean shipping at the Port of Boston has become a model for partnership."

Sipping Chinese green tea in his office on the third floor of the office building of COSCO Americas, Inc located in Secaucus, New Jersey, Howard Finkel felt proud of his current job, as his Chinese employer is the fastest expanding shipping firm in the industry.

Finkel, executive vice president of COSCO Container Lines Americas, a branch of the shipping firm's burgeoning operations, has witnessed stories of COSCO's job creation and culture blending in the nation during his 17-year service at the firm.

"We get a lot from the Chinese culture, and they get a lot from the American culture," said Finkel, who has worked for 22 years in the shipping industry.

To Finkel and other 200 US employees of COSCO Americas, Inc. working in the building, both Christmas and Chinese traditional festivals like the lunar new year and the Mid-Autumn Day are their holidays. US employees like Jamie Fienan enjoyed the culture diversity of the firm as she can choose either wonton or bacon for breakfast at the canteen.

"The company tries to mesh Chinese and US cultures. They understand your needs," said Fienan, who was born in Hudson Country, New Jersey, and works in the vicinity of her home. The flexible working schedule of the firm gives the 45-year-old mother possibility to balance work and personal life.

The company has a "family-oriented" culture and gives generous benefits and perks to employees, said Fienan, deputy general manager for pricing and marketing of COSCO Container Lines Americas.

"In the process of the expansion of COSCO Americas' employees from two in 1982 to more than 800 currently, we deemed employees as our family members," said Liu, chief of COSCO Americas, adding that more than 90 percent of his employees were locals.

China's contribution underestimated

COSCO's story in Boston was emblematic of deepening economic ties between China and the United States.

Trade between the world's largest two economies witnessed robust growth over the past three decades, surging from less than $2.5 billion shortly after diplomatic ties were established to $446.7 billion in 2011, Chinese governmental figures showed.

Along with its strategic partners K-Line, Yang Ming Marine Transport and Hanjin Shipping, COSCO nowadays deploys a weekly vessel shipping furniture, apparel and footwear and other goods from the Far East to Boston, and shipping agricultural products and other goods back to Asia.