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27 September 2020 The on-line newspaper devoted to the world of transports 09:13 GMT+2



August 28, 2020

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Original news
Growth in the business performance of the shipowner group Chinese COSCO Shipping in the second quarter

In the April-June period, the container ship fleet 6.2 million teu (-5.2%)

In the second quarter of this year, the Chinese shipping group COSCO Shipping Holdings reported an improvement in its results economic benefits in the face of a decrease in the volume of cargo containers carried by their fleet and handled by port terminals. In the period, the group's revenues 37.4 billion yuan (5.5 billion U.S. dollars), with a 3.4% increase over the April-June period of 2019, of which 36.7 billions of yuan generated by transport activities group's containerized maritime system (3.6%) 909.2 million terminal activities (up 26.4%). The operating costs of 30.9 billion yuan, or 3.8%, were the group. Useful operating and net profit increased by 2.1% and 37.0% to 2.6 billion and 1.4 billion Yuan.

If containerized cargoes in the second quarter of 2020 moved by the group's port terminals operated through COSCO Shipping Ports fell -3.2% ( 15 July 2020), containerized cargoes handled by group's shipping companies - COSCO Shipping Lines and Orient Overseas Container Line (OOCL) - down -5.2% 6.2 million teu, of which more than 4.5 million teu moved by COSCO Shipping Lines (-5.4%) and 1.7 million teu from OOCL (-4.6%) ( 24 July 2020).

In particular, in the second quarter of this year, COSCO Shipping Lines revenue of 23.3 billion yuan, or 4.6%, of which 5.9 billion yuan billions generated by the company's trans-Pacific services (4.5%) carrying loads of 640,000 teu (-4.5%), 5.5 Asia-Europe services (10.2%) they carried 794 thousand teu (-11.9%), 5.7 billion from intra-Asian services (13.1%) carrying more than 1.2 million teu (up 1.0%), 2.7 million Chinese national services (-12.1%) they carried 1.4 million teu (-4.1%) and 3.5 billion from other services company's international (-0.8%) carrying 441 thousand teu (-13.9%). Operating profit in the second quarter of 2020 from containerized shipping activities group was 1.4 billion yuan, or 2.1%, And net profit at 1.3 billion (-4.6%).




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