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Cosco boosts drive to develop inland logistics capabilities in Asia and Europe
来源： 编辑：编辑部 发布：2018/04/09 09:28:57
COSCO Shipping Holdings, which groups together Cosco Shipping and Cosco Shipping Ports, is pushing full steam ahead to develop its landside logistics capabilities in Asia and Europe to tap opportunities presented by China's Belt and Road initiative.
The group returned to profitability in 2017, with a recovering market and freight rates pushing up revenue by 22 per cent compared to the previous year to reach US$14.3 billion, plus generous government subsidies helped the company achieve a $423 million net profit.
The carrier's volume in 2017 rose by 23.7 per cent to 20.9 million TEU and Cosco Shipping Ports handled 100 million TEU, IHS Media reported.
Cosco Shipping Holdings said it had made progress regarding the construction of logistics channels along the Belt and Road route. By consolidating its global shipping networks, the company said it has increased service frequency and efficiency along the ocean route, and also connected the shipping routes with markets in the US, West Africa, Caribbean and north Europe.
Cosco says that 62 per cent of its entire container shipping capacity is deployed on the Belt and Road routes, comprising 180 container vessels with a total capacity of 1.15 million TEU.
In China the group operates 150 sea-rail container transportation routes, covering 100 major ports and hinterland stations across 27 provinces, autonomous regions, and centrally administered municipalities.
It stated early last year: "The company will also increase its efforts in construction of ancillary facilities in important logistic nodes in the supply chain, and gradually achieve the transition from a shipping carrier to a provider of comprehensive container logistics solutions."
Those efforts in 2017 began in January when Cosco Shipping Ports entered into a strategic cooperation agreement with Qingdao Port International, taking an 18.41 per cent equity interest.
The group returned to profitability in 2017, with a recovering market and freight rates pushing up revenue by 22 per cent compared to the previous year to reach US$14.3 billion, plus generous government subsidies helped the company achieve a $423 million net profit.
The carrier's volume in 2017 rose by 23.7 per cent to 20.9 million TEU and Cosco Shipping Ports handled 100 million TEU, IHS Media reported.
Cosco Shipping Holdings said it had made progress regarding the construction of logistics channels along the Belt and Road route. By consolidating its global shipping networks, the company said it has increased service frequency and efficiency along the ocean route, and also connected the shipping routes with markets in the US, West Africa, Caribbean and north Europe.
Cosco says that 62 per cent of its entire container shipping capacity is deployed on the Belt and Road routes, comprising 180 container vessels with a total capacity of 1.15 million TEU.
In China the group operates 150 sea-rail container transportation routes, covering 100 major ports and hinterland stations across 27 provinces, autonomous regions, and centrally administered municipalities.
It stated early last year: "The company will also increase its efforts in construction of ancillary facilities in important logistic nodes in the supply chain, and gradually achieve the transition from a shipping carrier to a provider of comprehensive container logistics solutions."
Those efforts in 2017 began in January when Cosco Shipping Ports entered into a strategic cooperation agreement with Qingdao Port International, taking an 18.41 per cent equity interest.