MAINLAND China's international port operator Cosco
Shipping Ports announced that net profits in the first quarter of the
year surged 140.1 per cent year on year US$73 million, drawn on revenues of
US$265.3 million, up 0.3 per cent.
The port operator said the Q1 profit excluded a one off
gain from the disposal of Yangzhou Yuanyang Terminal and Zhangjiagang Terminal.
Total container throughput was 30.19 million TEU, a
year-on-year increase of 9.9 per cent.
Throughput of the Greater China region in the three months
to the end of March increased 12.5 per cent to 23.23 million TEU, accounting
for 76.9 per cent of the group's total throughput.
The total volume of containers handled by overseas
terminals increased by 2.0 per cent to 6.96 million TEU, accounting for 23.1 of
the group's total throughput.
Looking ahead, the company said in a statement: "We
see the growth momentum of the ports industry in the first quarter of 2021 and
believe the impact from COVID-19 epidemic on the ports industry has gradually
eased.
"We expect the trade and economy to further recover
and we are well prepared to seize opportunities arising from the rebound of
global demand."
Source : HKSG / Photo : Container News.
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