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18 September 2021 The on-line newspaper devoted to the world of transports 22:57 GMT+2



August 31, 2021

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Original news
Outstanding quarterly financial performance for the Chinese shipowning group COSCO

Historical record of containerized traffic volume on Asia-Europe routes

In the second quarter of this year the Chinese shipowning group COSCO Shipping Holdings reported record revenues of €74.42 billion yuan ($11.5 billion), with a remarkable increase of +96.1% compared to the same period of 2020 and with a rise of 9.58 billion yuan compared to the previous record established in the first quarter of 2021. The only activities of containerized maritime transport operated by the group have totaled record revenues of 72.91 billion yuan, with a growth of +98.5% on the second quarter of last year, while terminal activities generated revenues of 1.08 billions of yuan (+18.5%). Operating costs increased globally of +27.8% standing at 39.45 billion yuan.

Operating profit for the second quarter of 2021 was result equal to the record value of 29.15 billion yuan (+1,033.8%), with a contribution of €28.25 billion from assets of containerized maritime transport (+1,883.4%) and 681.2 millions from terminal activities (+6.6%). Net profit amounted to the record value of 25.07 billion yuan (+1,883.6%), of which 24.48 billion generated by shipping containerized (+2,315.9%) and 1.28 billion from activities terminal (+6.0%).

In the period April-June of this year the volume of loads containerized transported by the fleet of the Chinese group is state equal to 7.06 million teu, volume that represents the new maximum peak for this time of year and an increase of +13.1% on the second quarter of 2020. On the only routes between Asia and Europe a total volume of 1.33 million was transported teu which constitutes the new historical record for this direction of traffic and a growth of +17.0% on the second trimester of the last year. On transpacific routes alone they were transported 1.33 million teu (+17.7%), volume that represents the new record for the second quarter of the year. A new record for the second quarter was also established by the volumes of cargoes transported on intra-Asian routes that were equal to 2.17 million teu (+10.2%). On Chinese domestic routes, market segment that recorded its historical record in the second quarter of 2018 with 1.82 million teu, in the second quarter of 2021 1.50 million teu were transported (+4,4%). On other international sea routes it was transported a volume of cargo in containers equal to 727 thousand teu (+28.1%) which represents the new historical record for this area of market.

In the second quarter of this year the only SHIPS of COSCO Shipping Lines, which is the leading shipping company containerized by the Chinese group, they transported 5.11 million teu (+12.3%), of which 921 thousand teu on the Asia-Europe routes (+16.0%), 792 thousand teu on the transpacific ones (+23.7%), 1,29 million teu on intra-Asian routes (+4.3%), 1.5 million teu on routes Chinese national (+4.4%) and 604 thousand teu on other routes international (+36.9%).

The record financial performance of the second quarter of this year added to the previous record results established in the previous quarter resulting in a first half of 2021 extraordinary for the Chinese shipowning group, a period that is was stored with record financial data starting from revenues that have attested to 139,26 billion yuan, in growth of +88.1% on the first six months of 2020, with a contribution of 136.43 billion from contaminated maritime transport activities (+90.6%) and 2.83 billion from terminal activities (+14.5%). Operating profit was 48.06 billion yuan (+1,308.9%), of which 47.35 billion generated by shipping containerized (+1,774.2%) and 681.2 million from activities terminal (-28.9%). Net profit was 42.87 billion yuan (+2,111.7%), with a contribution of 42.04 billion generated by the activity of the carrier fleet of the group (+3,054.8%) and 1.28 billion from port activities (+6,0%).

In the first six months of this year the fleet of carriers of the group has transported 13,84 million teu (+16.8%), of which 9,91 million teu transported by COSCO Shipping ships alone Lines (+15.8%).




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