COSCO SHIPPING Holdings achieves a net profit of 37.1 billion yuan in H1

From January to June 2021, COSCO SHIPPING Holdings realized a net profit attributable to the shareholders of the listed company of RMB 37.098 billion, a significant increase from RMB 1.137 billion in the same period last year.
 
The company's operating revenue in the first half of the year reached 139.264 billion yuan, a year-on-year increase of 88.1%. Among them, the revenue of container shipping business reached 136.438 billion yuan, a year-on-year increase of 90.6%; The revenue of terminal business reached RMB 3.717 billion, a year-on-year increase of 15.3%.
 
By the end of the reporting period, the number of container ships operated by the company had reached 526, about 3.03 million TEUs, and the transportation capacity increased by 3.7% over the same period last year. Among them, the transportation capacity of trans Pacific routes and Asia Europe routes increased by 12% and 13% year-on-year respectively.
 
Under the combined influence of multiple factors such as the global epidemic, the company is committed to building a more stable supply chain system for global customers. By giving full play to the synergy and scale advantages of its dual brand fleet of "COSCO SHIPPING Lines" and "OOCL", while continuously optimizing the layout of global route network, the company has increased the investment and flexible allocation of global transportation capacity.
 
In terms of container shipping business, the company actively responds to the national “One Belt One Road” initiative, seizes the opportunity of the RCEP agreement, and actively strengthens the allocation of resources in emerging markets, regional markets and third-country markets such as Southeast Asia, South Asia, Latin America, and Africa. In the first half of the year, the company's dual-brand container volume in emerging markets increased by 24% year-on-year, and the third-country market's container volume accounted for 38% of the total foreign trade volume.
 
In terms of terminal business, COSCO SHIPPING Ports, as a leading port operator in the world, continues to deepen the concept of "lean operation" and continuously improve the terminal operation quality and service level.
 
In the second half of this year, COSCO will actively respond to the changes and challenges of the future market. While taking regular epidemic prevention and control measures, COSCO will continue to deepen the synergy and integration of the company's container shipping business and terminal business, so as to enhance the comprehensive competitiveness of the company.
 
Source: Sarah Yu, XINDE MARINE NEWS

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