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26 November 2020 The on-line newspaper devoted to the world of transports 11:42 GMT+1

October 30, 2020

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Original news
In the third quarter, COSCO Shipping's fleet transported record containerized volumes

OOIL invests $1.1 billion in construction of seven 23,000 teu

In the third quarter of this year, the container fleet of the Chinese shipowners' group COSCO Shipping Holdings transported load volumes of 7.08 million teu, a volume that represents the new historical record of quarterly containerized traffic moveded by the group's ships, an increase of +6.6% on the third quarter of 2019 and a growth of +5.2% on the previous peak quarterly report established in the period July-September 2018.

The increase was generated by increases in volumes transported on the main traffic routes. In particular, in the third quarter of 2020 the Trans-Pacific Partnership services of the Chinese group transported 1.36 million teu (+9.2%), Asia-Europe services 1.32 million teu (+4.9%), intra-Asian services 2.09 million (+4.1%), China's national maritime services 1.66 million teu (+11.7%) and other international maritime services 644,000 (+1.0%).

COSCO Shipping Holdings operates containerised maritime services through shipping companies COSCO Shipping Lines and Orient Overseas Container Line (OOCL). In the third quarter of this year, the second maritime carrier transported 1.95 million teu ( of the 23rd October 2020), while COSCO Shipping Lines carried 5.13 million teu (+5.6%), of which 775,000 teu on the routes (+7.7%), 934,000 teu on Asia-Europe (+4.1%), 1.26 million teu on intra-Asian routes (+1.9%), 1.66 million teu on China's domestic routes (+11.7%) and 502,000 teu on other international routes (-3.7%).

In the third quarter of this year, COSCO Shipping's revenues Holdings stood at 43.66 billion yuan (6.5 billion yuan) dollars), with an increase of +10.5% over the same period of 2019, of which 42.23 billion yuan generated by the containerised maritime transport (+11.3%). Operating costs are amounted to 40.70 billion yuan (+4.7%). Operating profit is 3.74 billion yuan (+138.8%), with a contribution from the energy-contaminated maritime transport activity of 4.15 billion yuan (+89.3%), and net profit was equal to 3.59 billion yuan (+164.9%), of which 3.33 billion generated by the containerized shipping segment (+312.0%).

In the first nine months of 2020, revenues totalled 117.71 billion yuan, an increase of +5.5% over the period January-September last year, of which 113.84 billion were produced the activity of the carrier fleet (+6.5%). Useful operating income were 6.02 respectively billion and 5.53 billion yuan, with increases of +45.9% and +57.0% and with a result of 6.67 billion yuan (+28.1%) and 4.67 billion (+111.6%) from containerized shipping.

In the first nine months of this year, the group's fleet transported 18.93 million teu (-0.9%), of which 13.69 million transported by COSCO Shipping Lines alone (-1.8%).

Meanwhile, its subsidiary Orient Overseas (International) Limited (OOIL), which is the head of the contaminated services operated by the OOCL, ordered the construction of seven new container containers from 23,000 for a total investment of 1.10 billion Dollars. The construction of three ships with a unit value of 157.7 million dollars was commissioned to the shipyard Chinese Nantong COSCO KHI Ship Engineering Co. which is for the 50% owned by COSCO Shipping Holdings, while the other four ships of the same unit value were ordered at the Chinese shipyard Dalian COSCO KHI Ship Engineering Co., which is 30% of the Chinese shipowners' group. The other main partner of both shipyards is the Japanese Kawasaki Heavy Industries (KHI).

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