COSCO SHIPPING Ports' nine-month profit rises 19.6% to $264.3M, fueled by strong overseas terminal performance amid softer domestic conditions.
COSCO SHIPPING Ports Limited (HKEX: 1199), a global terminal operator with a network spanning the Bohai Rim, the Yangtze River Delta, the Pearl River Delta, the Mediterranean, and the Middle East, reported a 19.6% year-on-year rise in net profit attributable to shareholders to $264.3 million for the first nine months of 2025, as strong gains at overseas terminals offset softer conditions in parts of its home market.
Revenue for the nine-month period climbed 11.4% year-on-year to $1,234.7 million, the company said. Total throughput handled across its terminal portfolio reached 113.3 million TEU, up 5.6% from a year earlier, while third-quarter throughput advanced 4.2% to 38.98 million TEU. Basic earnings per share rose 13.2% to 6.94 US cents.
The headline figure for the period was the performance of the company's overseas terminals, where profit surged 65.3% year-on-year, driven by the Mediterranean and Middle East regions. Profit from Chinese terminals grew a comparatively modest 2.6%, underscoring the widening contribution of the company's international footprint.
Gross profit for the nine months increased 5.7% to $326.5 million. EBITDA, however, edged down 3.6% to $674.6 million. Profit contribution from joint ventures and associates rose 12.3% to $268.8 million, reinforcing the company's reliance on its network of partnered assets.
Net finance costs fell 19.6% to $95.0 million, easing pressure on the bottom line and supporting the double-digit net profit gain. The lower financing expense strengthens the balance sheet as the company continues to expand overseas capacity.
Revenue from overseas subsidiaries grew 20.7% year-on-year, with the gross profit margin at those operations improving by 0.9 percentage points. Third-quarter throughput at the company's Chinese terminals rose 3.1% year-on-year, with results varying markedly by region.
The Bohai Rim posted a 3.1% third-quarter gain, the Yangtze River Delta rose 1.9%, and the Southwest Coast advanced 10.7%. The Pearl River Delta was broadly flat, while the Southeast Coast declined 4.9%. Overseas terminals collectively grew 7.6% in the quarter.
Individual assets showed standout results. Throughput at Beibu Gulf Port rose 10.7%, CSP Zeebrugge climbed 24.1%, and Suez Canal Container Terminal surged 58.3%. Piraeus Container Terminal, the company's flagship Mediterranean gateway, saw throughput fall 14.8% year-on-year, which the company attributed to a slowdown in the Mediterranean market.
For cargo owners and logistics partners tracking capacity and reliability across major trade lanes, the divergence signals shifting volumes: firm momentum through the Middle East corridor and northern Europe, set against softness in parts of the Mediterranean and China's southeastern coast. The company's broadening overseas base points to continued investment in the gateways that underpin global container flows.
