-
COSCO Shipping Ports’ third-quarter throughput rose 8.4% year on year to 42,266,553 TEU
-
Revenue grew 13.0% to US$484.3 million, but profit edged up only 0.1% to US$82.6 million
-
Overseas terminals grew 19.4%, well ahead of China’s 4.9%
COSCO Shipping Ports Limited (CSP) said its terminals handled 42,266,553 TEU in the third quarter, up 8.4% from a year earlier. Equity throughput rose 8.1% to 12,884,563 TEU.
Revenue rose 13.0% to US$484.3 million and gross profit climbed 19.3% to US$128.1 million, the company said in a statement. Profit attributable to equity holders was nearly flat, up 0.1% to US$82.6 million. For the first nine months, throughput rose 8.1% to 122.4 million TEU, revenue rose 12.6% to US$1.39 billion and profit rose 19.7% to US$316.3 million.
Overseas leads growth
Overseas terminals handled 11.3 million TEU, up 19.4% and 26.8% of the group total. Piraeus in Greece grew 11.4% to 1.09 million TEU on Mediterranean demand. Chancay in Peru rose 24.9% to 139,669 TEU after CSP completed its “three mainlines and five feeders” route layout.
China terminals, 73.2% of throughput, rose 4.9% to 30.9 million TEU. The Pearl River Delta grew 7.6% and the Bohai Rim 4.3%, while the Yangtze River Delta slipped 0.3%. CSP said AI-related investment demand supported high-tech exports through Dalian, where throughput rose 6.7%.
Outlook
CSP noted that the International Monetary Fund and World Trade Organization have raised their growth forecasts for the global economy and goods trade, with growth expected to continue in 2027. It cited China customs data showing trade rising 18.8% in the first three quarters. It also warned that the Middle East situation, energy prices, supply chain costs and trade policy changes will keep affecting shipping.
The company plans to expand its global network, seek controlling stakes in strategic hub ports and push automation, artificial intelligence and green fuels.
