{"id":1156,"date":"2022-09-01T09:40:26","date_gmt":"2022-09-01T01:40:26","guid":{"rendered":"http:\/\/www.hajomech.com\/cosco-announces-25-per-cent-revenue-growth-as-china-tops-market\/"},"modified":"2022-09-01T09:40:26","modified_gmt":"2022-09-01T01:40:26","slug":"cosco-announces-25-per-cent-revenue-growth-as-china-tops-market","status":"publish","type":"post","link":"http:\/\/www.hajomech.com\/cosco-announces-25-per-cent-revenue-growth-as-china-tops-market\/","title":{"rendered":"COSCO announces 25 per cent revenue growth as China tops market"},"content":{"rendered":"
\n

COSCO SHIPPING Ports Limited (CSP) has announced interim results <\/p>\n

for the first half of 2022, boasting revenues of $704.6 million.<\/strong><\/p>\n

\"COSCO<\/strong><\/p>\n

The figure stands for a 24.7 per cent year-on-year (YoY) increase.<\/p>\n

<\/p>\n

Gross profit increased by 33.3 per cent compared to the first six months of <\/p>\n

2021 for a total of $197.7 million. During the same period, profit attributable <\/p>\n

to equity holders of the company rose by 0.8 per cent to $177 million.<\/p>\n

<\/p>\n

Turning to the container sector, COSCO\u2019s total equity throughput increased <\/p>\n

by 5.3 per cent in H1 2022, climbing to 20.4 million TEU.<\/p>\n

<\/p>\n

Individual regional performance was mostly positive, whilst total <\/p>\n

throughput in China decreased by 1.9 per cent to 47.5 million TEU compared to <\/p>\n

the first six month of last year.<\/p>\n

<\/p>\n

Total equity throughput of terminals in China increased by 2.4 per cent to <\/p>\n

14.2 million TEU and accounted for 69.6 per cent of the group\u2019s total equity <\/p>\n

throughput.<\/p>\n

<\/p>\n

In the Yangtze River Delta region, total throughout decreased by 16 per <\/p>\n

cent YoY to 6.4 million TEU. In particular, the CSP terminal in Shanghai <\/p>\n

suffered the most with a YoY decrease of 30 per cent due to an outbreak in <\/p>\n

COVID-19 cases earlier this year.<\/p>\n

<\/p>\n

Despite economic activities around the world still impacted by the COVID-19 <\/p>\n

pandemic, China\u2019s foreign trade achieved steady growth in the first half of the <\/p>\n

year according to COSCO.<\/p>\n

<\/p>\n

Total throughput of the overseas region increased by 9.9 per cent YoY to <\/p>\n

15.6 million TEU.<\/p>\n

<\/p>\n

Ports across China are enjoying steady growth in spite of supply chain <\/p>\n

hurdles, as they moved a total of 168.7 million TEU from January to July, an <\/p>\n

increase of 4.2 per cent compared to the same period in 2021.<\/p>\n

<\/p>\n

Shanghai still led as best performing port with a traffic of 26.8 million <\/p>\n

TEU.<\/p>\n

<\/p>\n

In May, COSCO Shipping Ports\u2019 first quarter results for 2022 showed <\/p>\n

revenues of $329.7 million, an increase of 24.2 per cent year-on-year.<\/p>\n

<\/p>\n

The group said the growth was primarily driven by its subsidiary Tianjin <\/p>\n

Container Terminal.<\/p>\n

<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

COSCO SHIPPING Ports Limited (CSP) has announced interim results for the first half of 2022, boasting revenues of $704.6 million.The figure stands for a 24.7 per cent year-on-year (YoY) increase.Gross profit increased by 33.3 per cent compared to the first six months of 2021 for a total of $197.7 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"hj_lang":[3],"class_list":["post-1156","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/comments?post=1156"}],"version-history":[{"count":0,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1156\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/media?parent=1156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/categories?post=1156"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/tags?post=1156"},{"taxonomy":"hj_lang","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/hj_lang?post=1156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}