News Content
Cosco Pacific first half profit up 12pc to US$164.4 million as revenue falls 9pc
HONG KONG listed Cosco Pacific posted a 12 per cent first half net profit increase to US$164.4 million drawn on revenues of $402.4 million, which declined nine per cent year on year.
As Cosco Group's port operator, Cosco Pacific operates terminals and Piraeus, Greece and Kwai Tsing in Hong Kong as well as many holdings in mainland China.
The profit increase was attributed to cost cutting. Container volume in the first six month increase two per cent to 9.5 million TEU.
First half year-on-year profit from the terminals increased 11 per cent to $121.2 million.
As of June 30, there were 108 berths under the company's operating container terminals and the total annual handling capacity is 65.75 million TEU both of which were unchanged from the end of 2014.
There are currently 13 bulk cargo berths in operation, with a total annual handling capacity of 46.05 million tonnes, which were unchanged from the end of 2014.
Cosco Pacific's container fleet increased two per cent to two million TEU as of June 30. The average age of containers 6.8 years.
As Cosco Group's port operator, Cosco Pacific operates terminals and Piraeus, Greece and Kwai Tsing in Hong Kong as well as many holdings in mainland China.
The profit increase was attributed to cost cutting. Container volume in the first six month increase two per cent to 9.5 million TEU.
First half year-on-year profit from the terminals increased 11 per cent to $121.2 million.
As of June 30, there were 108 berths under the company's operating container terminals and the total annual handling capacity is 65.75 million TEU both of which were unchanged from the end of 2014.
There are currently 13 bulk cargo berths in operation, with a total annual handling capacity of 46.05 million tonnes, which were unchanged from the end of 2014.
Cosco Pacific's container fleet increased two per cent to two million TEU as of June 30. The average age of containers 6.8 years.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
