COSCO achieves best performance in history

Twitter
Facebook
LinkedIn
Email
COSCO achieves best performance in history

COSCO SHIPPING Holdings (COSCO) has announced interim results for the first half of the year, riding on high freight rates.

The company recorded an EBIT of CNY95.3 billion ($13.6 billion), representing a year-over-year increase of 92.20 per cent in line with its forecast released earlier in July.

The result marks the company’s best performance in history for the period.

COSCO realised a total pre-tax profit of CNY93.5 billion ($13.4 billion), representing a year-over-year increase of 95.83 per cent.

Net profit attributable to equity holders of the listed company came at CNY64.7 billion ($9.2 billion), representing a year-over-year increase of 74.46 per cent and also a historical high according to the company.

COSCO’s listed company COSCO SHIPPING Ports Limited (CSP) recently posted interim results for the first half of 2022, boasting revenues of $704.6 million.

Its total equity throughput increased by 5.3 per cent in H1 2022, climbing to 20.4 million TEU as ports across China are enjoying steady growth in spite of supply chain hurdles.

Last week, COSCO launched the first Qinzhou-Luzhou regular sea-rail block.

Cargoes were transported from the Port of Abu Dhabi to the Beibu Gulf Port, and then transferred to the Qinzhou East Railway Yard Station in mid-August by a block train running through the New Western Land-sea Trade Corridor.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.