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Shanghai H1 port profit falls 5.8pc to US$437.16 million, boxes down 0.7pc
THE Shanghai International Port (Group) Co (SIPG) first half net profit declined 5.8 per cent to CNY2.92 billion (US$437.16 million), drawn on revenues of CNY15.42 billion, up 4.4 per cent year on year.
Shanghai, the world's busiest container port, recorded a first half throughput of 17.89 million TEU down 0.7 per cent year on year.
SIPG said the first half container volumes of 17.89 million TEU met 48.4 per cent of its annual box throughput target.
"The global shipping industry continues to be weighed down by excessive tonnage and the financial health of many shipping firms has remained weak, leading to slowing port businesses as well," SIPG stated.
Shanghai, the world's busiest container port, recorded a first half throughput of 17.89 million TEU down 0.7 per cent year on year.
SIPG said the first half container volumes of 17.89 million TEU met 48.4 per cent of its annual box throughput target.
"The global shipping industry continues to be weighed down by excessive tonnage and the financial health of many shipping firms has remained weak, leading to slowing port businesses as well," SIPG stated.
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