[4] Founded in London in 1872 by John Samuel Swire, CNCo was established with the intent of providing paddle steamer services on the Yangtze River.

That same year, they also purchased the Union Steam Navigation Company, which included CNCo's first two ships, Tunsin and Glengyle, along with property leases in Shanghai and other river ports.

The two vessels laid the foundation for the formation of a new company, the Coast Boats Ownery (CBO), which was set up to manage China coastal trade.

[11] The company faced intense competition, rate wars, and entered into pool agreements with rival firms, reflecting the volatile nature of the Chinese shipping industry in the late 19th century.

[6] The company faced numerous challenges in the 20th century, including political turbulence and piracy in the Far East, but continued operations through both World Wars.

[6] Initially focusing on the Yangtze River trade, the company expanded its operations to include coastal and regional routes by the late 19th century.

[13] Post-World War II, the company innovated in the Pacific trade routes, notably introducing "unitisation" in cargo handling during the 1960s, and later transitioning to full containerisation.