COSCO Shipping Ports, a front-running world port operator, posted a 33.5 per cent increase in third quarter net profit to US$75.8 million, drawn on revenues of $253 million, which increased 62.6 per cent year on year.
In the first nine months, the company, formerly known Cosco Pacific, posted a 46.6 per cent year-to-date a profit increase to $244.1 million, drawn on revenues of $748.4 million, a year-on-year increase of 73.5 per cent.
'As the last quarter is a low season for port operators. Growth in throughput volume should see a slowdown,' said the company outlook.
'Looking ahead, trades are expected to see the negative impacts from the Sino-US trade tension. Export expansion in China is likely to taper off when foreign trades are expected to have bigger impact by the trade war,' it said.
Year-to-date total throughput increased 20.6 per cent to 87,518,295 TEU. Due to slowdown in throughput growth of the group?s non-controlling terminal companies, for the third quarter ended 30 September 2018, the group?s total throughput increased by 11.1 per cent to 30,811,695 TEU.
For the three months ended 30 September 2018, throughput from the group?s subsidiaries increased by 33 per cent to 5,793,569 TEU, accounting for 18.8 per cent of the group?s total throughput. Throughput from the group?s non-controlling terminals rose by seven per cent to 25,018,126 TEU, accounting for 81.2 per cent of the group?s total throughput.
Quarterly throughput of the Greater China region increased 5.9 per cent to 24,408,026 TEU, accounting for 79.2 per cent of the group?s total volume. Year-to-date, Greater China volume was up 16.9 per cent to 68,965,288 TEU.
Throughput of the Bohai Rim region increased 14.5 per cent to 10,187,107 TEU in the third quarter, accounting for 33.1 per cent of the total, with Dalian operations increasing 49.5 per cent to 2,755,434 TEU.
Throughput of the Yangtze River Delta accounted for 16.6 per cent of the group?s total and amounted to 5,113,222 TEU for the for the quarter, an increase of three per cent year on year. Benefiting from adjustment in shipping routes, throughput of Ningbo Yuan Dong Terminals Limited rose 4.9 per cent to 770,617 TEU.
Throughput of Shanghai Pudong International Container Terminals Limited increased by 0.8 per cent to 683,400. Throughput of Shanghai Mingdong Container Terminals Limited decreased by 0.8 per cent to 1,618,140 TEU.
Throughput of the Southeast Coast region accounted for 4.7 per cent of the group?s total, increased by 7.1 per cent to 1,446,469 TEU for the quarter. Driven by the increased calls by the OCEAN Alliance, throughput of Xiamen Ocean Gate Container Terminal increased 14.6 per cent to 475,489 TEU.
Affected by typhoon in September, throughput of the Pearl River Delta region decreased by 2.1 per cent to 7,320,160 TEU for the quarter, accounting for 23.8 per cent of the total throughput. Throughput of Guangzhou South China Oceangate Container Terminal Company Limited (?Guangzhou South China Oceangate Container Terminal? increased five per cent to 1,378,788 TEU .
Throughput of the Southwest Coast region accounted for 1.1 per cent of the total, decreased by 6.8 per cent to 341,068 TEU.
The total throughput of overseas terminals increased by 36.6 per cent to 6,403,669 TEU for the quarter and accounted for 20.7 per cent of the group?s total.
Throughput of the NPH group was 943,972 TEU. Fueled by increased calls by the OCEAN Alliance, throughput of Piraeus Container Terminal in Greece increased 22.6 per cent to 1,165,918 TEU. With a new berth added, throughput of Cosco-PSA Terminal Private Limited surged 54.6 per cent to 788,337 TEU
In the first nine months, the company, formerly known Cosco Pacific, posted a 46.6 per cent year-to-date a profit increase to $244.1 million, drawn on revenues of $748.4 million, a year-on-year increase of 73.5 per cent.
'As the last quarter is a low season for port operators. Growth in throughput volume should see a slowdown,' said the company outlook.
'Looking ahead, trades are expected to see the negative impacts from the Sino-US trade tension. Export expansion in China is likely to taper off when foreign trades are expected to have bigger impact by the trade war,' it said.
Year-to-date total throughput increased 20.6 per cent to 87,518,295 TEU. Due to slowdown in throughput growth of the group?s non-controlling terminal companies, for the third quarter ended 30 September 2018, the group?s total throughput increased by 11.1 per cent to 30,811,695 TEU.
For the three months ended 30 September 2018, throughput from the group?s subsidiaries increased by 33 per cent to 5,793,569 TEU, accounting for 18.8 per cent of the group?s total throughput. Throughput from the group?s non-controlling terminals rose by seven per cent to 25,018,126 TEU, accounting for 81.2 per cent of the group?s total throughput.
Quarterly throughput of the Greater China region increased 5.9 per cent to 24,408,026 TEU, accounting for 79.2 per cent of the group?s total volume. Year-to-date, Greater China volume was up 16.9 per cent to 68,965,288 TEU.
Throughput of the Bohai Rim region increased 14.5 per cent to 10,187,107 TEU in the third quarter, accounting for 33.1 per cent of the total, with Dalian operations increasing 49.5 per cent to 2,755,434 TEU.
Throughput of the Yangtze River Delta accounted for 16.6 per cent of the group?s total and amounted to 5,113,222 TEU for the for the quarter, an increase of three per cent year on year. Benefiting from adjustment in shipping routes, throughput of Ningbo Yuan Dong Terminals Limited rose 4.9 per cent to 770,617 TEU.
Throughput of Shanghai Pudong International Container Terminals Limited increased by 0.8 per cent to 683,400. Throughput of Shanghai Mingdong Container Terminals Limited decreased by 0.8 per cent to 1,618,140 TEU.
Throughput of the Southeast Coast region accounted for 4.7 per cent of the group?s total, increased by 7.1 per cent to 1,446,469 TEU for the quarter. Driven by the increased calls by the OCEAN Alliance, throughput of Xiamen Ocean Gate Container Terminal increased 14.6 per cent to 475,489 TEU.
Affected by typhoon in September, throughput of the Pearl River Delta region decreased by 2.1 per cent to 7,320,160 TEU for the quarter, accounting for 23.8 per cent of the total throughput. Throughput of Guangzhou South China Oceangate Container Terminal Company Limited (?Guangzhou South China Oceangate Container Terminal? increased five per cent to 1,378,788 TEU .
Throughput of the Southwest Coast region accounted for 1.1 per cent of the total, decreased by 6.8 per cent to 341,068 TEU.
The total throughput of overseas terminals increased by 36.6 per cent to 6,403,669 TEU for the quarter and accounted for 20.7 per cent of the group?s total.
Throughput of the NPH group was 943,972 TEU. Fueled by increased calls by the OCEAN Alliance, throughput of Piraeus Container Terminal in Greece increased 22.6 per cent to 1,165,918 TEU. With a new berth added, throughput of Cosco-PSA Terminal Private Limited surged 54.6 per cent to 788,337 TEU