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Cosco's port operator profit up 0.8pc, but revenue jumps 24.7pc

Author:   Posttime:2022-09-02

CHINA's big port operator, Cosco Shipping Ports, first half net profit increased 0.8 per cent year on year to US$177 million, drawn on revenues of $704.6 million, up 24.7 per cent.

Gross profit increased by 33.3 per cent year on year to US$197.7 million. Mainly due to increase in ASP, gross profit margin increased 1.8 percentage points to 28.1 per cent.
Throughput rose 0.8 per cent to 63,210,330 TEU. Total throughput of the terminals in China decreased by 1.9 per cent year on year to 47,562,593 TEU and accounted for 75.2 per cent of the company's total throughput.
Total equity throughput of terminals in China increased 2.4 per cent to 14,259,249 TEU and accounted for 69.6 per cent of the company's total equity throughput.
During the period, total throughput of the Bohai Rim region decreased by 3.5 per cent to 20,767,708 TEU and accounted for 32.9 per cent of the group's total throughput.
Total equity throughput of the Bohai Rim region increased by 23.3 per cent to 5,809,679 TEU (1H2021: 4,713,238 TEU) and accounted for 28.3 per cent of the group's total equity throughput.
Benefiting from increased domestic container volume, total throughput of Dalian Container Terminal increased by 10.9 per cent to 1,869,273 TEU.
Total throughput of Tianjin Container Terminal decreased by 3.3 per cent to 4,318,871 TEU.
Yangtze River Delta During the period, total throughput of the Yangtze River Delta region decreased by 16 per cent to 6,483,243 TEU and accounted for 10.2 per cent of the group's total throughput.
Total equity throughput of the Yangtze River Delta region decreased by 14.8 per cent to 1,817,298 TEU and accounted for 8.9 per cent of the company's total equity throughput.
Total throughput of Nantong Tonghai Port decreased 8.3 per cent to 678,597 TEU, mainly due to the negative impact on domestic and foreign trade caused by the Covid scare.
During the period, total throughput of the Pearl River Delta region increased 1.5 per cent to 13,866,357 TEU and accounted for 21.9 per cent of the company's total throughput.
Total equity throughput of Pearl River Delta region decreased 1.3 per cent to 3,974,883 TEU and accounted for 19.4 per cent of the company's total throughput.
Total throughput of Guangzhou South China Oceangate Terminal decreased by 0.9 per cent to 2,814,568 TEU.
Total throughput of Yantian Terminals increased by 6.7 per cent to 6,920,830 TEU.
Total throughput of the overseas region increased by 9.9 per cent to 15,647,737 TEU and accounted for 24.8 per cent of the company's total throughput.
Total equity throughput of overseas region increased by 0.3 per cent to 6,234,763 TEU and accounted for 30.4 per cent of the company's total equity throughput.
The volume from ad hoc shipping calls of CSP Zeebrugge Terminal increased and the total throughput increased by 26.4 per cent to 547,314 TEU.
Driven by an increase in container volume contributed by the parent company and an increase in local transshipment container volume, total throughput of CSP Abu Dhabi Terminal increased 25.1 per cent to 413,057 TEU.
Since, the punctuality rate of shipping routes generally declined as a result of the continuous congestion at certain overseas ports, total throughput of Piraeus Terminal decreased by 9.6 per cent to 2,144,064 TEU.
 

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