Cosco enjoys a convincing Q3/2019
The number of major shipping lines back in black is on the rise in 2019. The Chinese Cosco Holding, which encompasses OOCL, also achieved a convincing result in Q3/2019. Operating income of RMB 1.57 billion (USD 221 million) shows an increase of USD 600 million (262%) over the previous year.
Nevertheless, net income in the third quarter of 2019 remained stable at RMB1.36 billion (USD 193 million). Cosco Shipping Lines contributed the lion's share to the turnover with 90% of the holding's conglomerate. It achieved a growth of 7% in the third quarter of 2019 in comparison to Q3/2018 with 35.5 billion RMB (5 billion USD).
The line, which has more than 500 container vessels with a capacity of nearly 3 million teu, is part of the Ocean Alliance with CMA CGM including its subsidiaries APL and Evergreen.
According to Cosco, the vessels transported more than 6.64 million teu in Q3/2019, also 2% more than in the same period last year. The strongest growth was recorded in the last blown routes between Asia and Europe, including the Mediterranean, where Cosco grew more than 7%. (fd)