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Profit attributable to equity holders increased by 85.2% year-on-year to US$175.6 million
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Revenue rose 24.8% year-on-year to $564.9 million
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Total throughput was 62.71 million TEUs, up 8.8% year-over-year
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Throughput of the Greater China region increased by 10.1% year-over-year to 48.47 million TEUs and accounted for 77.3% of total throughput
Global port operator Cosco Shipping Ports reported strong group earnings in the first half of 2021 on the back of vigorous trade spurring a nearly 9% spike in volume during the period.
The port in a statement said profit attributable to equity holders increased by 85.2% year-on-year to US$175.6 million.
Revenue rose 24.8% year-on-year to $564.9 million, while gross profit in the first half of 2021 was up by 49.6% to $148.3 million. Share of profits from joint ventures and associates during the period increased by 36.1% year-on-year to $175.2 million.
Total throughput was 62.71 million TEUs, up 8.8% year-over-year, with total equity throughput of 19.47 million TEUs, a growth of 7.7%. Total throughput from subsidiaries was 11.36 million TEUs, higher by 8.2% from a year ago.
During the period, total throughput of the Greater China region increased by 10.1% year-over-year to 48.47 million TEUs in the first six months and accounted for 77.3% of the group’s total throughput.
By sub-region, total throughput of the Bohai Rim region, the economic region surrounding Tianjin in northern China increased by 6.3% year-over-year to 21.51 million TEUs and accounted for 34.3% of total group throughput.
That of the Yangtze River Delta region—generally comprising Shanghai, southern Jiangsu province and northern Zhejiang province—increased by 12.9% year-over-year to 7.72 million TEUs and accounted for 12.3% of total group throughput.
Total throughput of the Southeast Coast region increased by 17.2% year-over-year to 2.97 million TEUs and accounted for 4.7% of total throughput.
Total throughput of the Pearl River Delta region in southern China increased by 12.5% from the same period last year to 13.66 million TEUs and accounted for 21.8% of the group’s total throughput.
Total throughput of the Southwest Coast region increased by 14.4% year-on-year to 2.61 million TEUs and accounted for 4.2% of the group’s total throughput, the region benefiting mainly from increased trade between China and Southeast Asia.
During the period, total throughput of the overseas region increased by 4.7% year-over-year to 14.24 million TEUs and accounted for 22.7% of total throughput, as volume benefited from the continuous congestion in certain terminals in northwest Europe and from new routes.
Photo from Cosco Shipping Ports website
