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CSP reports 5.5pc increase in box volume but gross profits down 7pc
来源： 编辑：编辑部 发布：2020/04/01 14:11:46
COSCO Shipping Ports (CSP), the biggest terminal operator in the world by market share, suffered a drop in gross profits of 7.1 per cent to US$272.7 million in 2019 despite seeing throughput increase across its portfolio.
Revenue rose by 2.7 per cent to $1.03 billion compared to the previous year with total box throughput increasing 5.5 per cent to 123.78 million TEU.
Throughput in its terminals in Greater China increased by 3.4 per cent to 95.79 million TEU and accounted for 77 per cent of its overall traffic.
Within Greater China, CSP's best performing region was 'Southwest Coast', where the throughput increased by 19.5 per cent to 1.64 million TEU.
CSP's overseas terminals handled a total of 28 million TEU in 2019, an increase of 13 per cent, mainly due to increased calls from the Ocean Alliance and The Alliance.
Its operations at the Port of Piraeus, Greece, was its best performing overseas terminal, with a throughput increase of 17 per cent to 5.16 million TEU.
In its annual financial report, the terminal operator said: "In spite of uncertainties cast over the global trade, Cosco Shipping Ports continued to implement strategy effectively by leveraging on the synergistic advantages in 2019. Backed by the increased calls from the shipping alliances at the Group's container terminals and the contributions from newly acquired terminals, total throughput of the Group grew steady."
Looking ahead, CSP said the next 12 months were full of "challenges and opportunities", in particular the coronavirus pandemic, which is expected to hit global economy. The pandemic has caused uncertainty and congestion around the world, in particular China. However, it insisted it is well prepared to manage the crisis and that in China at least it has been contained.
"Factories have started to resume operation since late February. The Group is well prepared to grasp the opportunities arising from the pent-up demand as a result of the global restocking."
Revenue rose by 2.7 per cent to $1.03 billion compared to the previous year with total box throughput increasing 5.5 per cent to 123.78 million TEU.
Throughput in its terminals in Greater China increased by 3.4 per cent to 95.79 million TEU and accounted for 77 per cent of its overall traffic.
Within Greater China, CSP's best performing region was 'Southwest Coast', where the throughput increased by 19.5 per cent to 1.64 million TEU.
CSP's overseas terminals handled a total of 28 million TEU in 2019, an increase of 13 per cent, mainly due to increased calls from the Ocean Alliance and The Alliance.
Its operations at the Port of Piraeus, Greece, was its best performing overseas terminal, with a throughput increase of 17 per cent to 5.16 million TEU.
In its annual financial report, the terminal operator said: "In spite of uncertainties cast over the global trade, Cosco Shipping Ports continued to implement strategy effectively by leveraging on the synergistic advantages in 2019. Backed by the increased calls from the shipping alliances at the Group's container terminals and the contributions from newly acquired terminals, total throughput of the Group grew steady."
Looking ahead, CSP said the next 12 months were full of "challenges and opportunities", in particular the coronavirus pandemic, which is expected to hit global economy. The pandemic has caused uncertainty and congestion around the world, in particular China. However, it insisted it is well prepared to manage the crisis and that in China at least it has been contained.
"Factories have started to resume operation since late February. The Group is well prepared to grasp the opportunities arising from the pent-up demand as a result of the global restocking."