Cosco Shipping Ports Report 8.8% Container Growth In First Half of The Year

An 8.8% year-on-year increase in container growth was reported in the first six months of the year (H1), by Cosco Shipping Ports. The Chinese giant registered 62.7 million TEU in container throughput.

Cosco Shipping Ports Report 8.8% Container Growth In First Half of The Year
Image Via: Cosco Shipping Ports

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During this period, Greater China region’s net throughput increased by 10.1% year-on-year, to 48.47 million TEU, which accounts for 77.3% of the total throughput of the group, while the total throughput of the overseas region, which accounts for the rest 22.7% of the group, increased by 4.7% year-on-year to14.24 million TEU.

The imports and exports of China has reported a significantly strong performance for the first half of the year, as the world economy is showing signs of recovery. Further improvement is expected in trade and economic activities, which would thus move the shipping industry’s prosperity to an upward cycle, said Cosco Shipping Ports.

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Optimization of the global terminal network, providing support to the parent company’s container fleet in the global shipping routes, indulging in the introduction of new trade routes and striving for more route calls at it’s terminals would be continued by the company, thus achieving a further increase container volumes. 

Cosco Shipping Ports would be actively developing 5G ports and would be exploring big data preparation, to enable the digital transformation of the company. In addition to this, the company would also be focusing on improving terminal automation.

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A profit of $175.6 million was is reported by Cosco Shipping Ports in the first half of 2021, which is an increase of 7.5% year-on-year. The profit from it’s terminals segment too, increased by a whopping 59.9%, to $216.86 million.

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