COSCO Shipping Ports profit rises 29% in H1

The company declared an interim dividend of 2.360 cents per share.

Hong Kong-based COSCO Shipping Ports’ profit attributable to equity holders rose 28.5% year on year to $233.7m in the first half, as revenue and container throughput increased.

Revenue rose 12.3% to $905.3m, whilst gross profit increased 9.3% to $239.5m. The company declared an interim dividend of 2.360 cents per share.

Total container throughput increased 7.9% to 80.2 million twenty-foot equivalent units (TEU), whilst equity throughput rose 7% to 24.5 million TEU.

Overseas terminals recorded an 18% increase in throughput to 21.1 million TEU, compared with a 4.7% increase in China to 59 million TEU.

Piraeus Container Terminal’s throughput fell 2.9% to two million TEU, whilst CSP Abu Dhabi Terminal’s throughput dropped 44.3% to 442,977 TEU amidst geopolitical tensions in the Middle East.

CSP Chancay Terminal’s throughput rose 68.2% to 201,773 TEU. The terminal had three main lines and five feeder lines during the period.