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  • The subsidaries, like Cosco PSA terminal, grew strongly.

31.03.2020

Artikel Nummer: 31376

Mixed results for Cosco Shipping Ports


There was a year before corona. In 2019, the Chinese port and terminal operator Cosco Shipping Ports witnessed rising revenues, which surged by 2.7% to USD 1.02 billion, but declining profits, which went down by 7.1% to USD 272.7 million. Nevertheless, adjusted net profit rose by 8.1% to USD 350.9 million. This happened against a surge in throughput going up by 5.5% and amounting to almost 123.8 million teu.

 

Remarkably, throughput from subsidiaries proved to be even more dynamic, increasing by 11.5% to more than 25.1 million teu. Despite many uncertainties about the year 2020, the group said in a press release that it will "speed up the terminal extension business".

 

Besides investing in a port supply chain platform in Nansha District, Guangzhou, Cosco Shipping Ports plans to develop its terminal extended business to Abu Dhabi, Nantong, Xiamen, and also Wuhan and other regions. (mw)

www.ports.coscoshipping.com

 

 

 

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