Cosco still doing fine?
The first quarter of 2022 could be the calm before the storm for Cosco Shipping Ports. Throughput moved sidewards compared to Q1/2021, amounting to 30.3 million teu, a slight increase of 0.3%.
Yet, revenues surged by 21.4% to USD 329.7 million on the back of "effective sales and marketing strategy and the contribution of the company’s subsidiary Tianjin Container Terminal since December 2021," Cosco said in a press release.
The throughput of the group's overseas ports balanced setbacks in Chinese ports, increasing by 11.7% to 7.8 million teu (Q1/2021: 6.9 million teu) and accounting for 25.7% of the group's total.
Container handling in the Greater China region fell by 3.6% to 22.5 million teu (Q1/2021: 23.2 million teu). Total throughput of the Pearl River Delta region suffered the most, decreasing by 8% to 6.4 million teu (Q1/2021: 6.9 million teu). (sh)