Cosco Shipping Ports Limited reported first quarter revenue of US$420.9 million, up 10.3 per cent year on year, with throughput increasing 8.9 per cent to 38,917,178 TEU.

Equity throughput rose 7.5 per cent to 11,891,883 TEU. Profit attributable to equity holders increased two per cent to $85.6 million, while gross profit rose 1.7 per cent to $107 million. Joint ventures and associated companies contributed $90.2 million, up 13.6 per cent.

Terminals under controlling stakes handled 8,188,361 TEU, up 2.9 per cent and accounting for 21.0 per cent of total throughput. Non-controlling terminals processed 30,728,817 TEU, up 10.6 per cent and representing 79.0 per cent of the total.

In China, throughput rose 5.4 per cent to 28,639,641 TEU, or 73.6 per cent of the group's total. The Bohai Rim region grew 7.7 per cent, the Yangtze River Delta 3.6 per cent, and the Pearl River Delta 5.9 per cent. The Southeast Coast fell 6.5 per cent, while the Southwest Coast edged up 1.5 per cent.

Overseas terminals recorded stronger growth, with throughput up 19.8 per cent to 10,277,536 TEU, accounting for 26.4 per cent of the total. Equity throughput overseas rose 13.2 per cent to 3,699,735 TEU.

The company cited slower global trade growth and geopolitical tensions. China's total imports and exports reached CNY11.84 trillion in the quarter, up 15.0 per cent year on year. Looking ahead, Cosco Shipping Ports said it will focus on global network optimisation, efficiency, and digital technologies to manage costs.