Nel 2003 i container terminal di COSCO Pacific hanno movimentato 17,9 milioni di teu (+33,4%)

COSCO Pacific, società del gruppo armatoriale China Ocean Shipping (Group) Co. (COSCO) specializzata nella gestione di container terminal e nel noleggio container, ha archiviato positivamente il 2003. L'esercizio mostra un utile netto di 154,3 milioni di dollari, con una progressione dell'8,5% sul 2002. Il fatturato è aumentato del 6,5% a 257,5 milioni di dollari e il risultato operativo si è attestato a 126,1 milioni di dollari (+15,1%).

Lo scorso anno la divisione di noleggio container, settore nel quale COSCO Pacific opera attraverso la società interamente controllata Florens Container Holdings Limited e le sue filiali, ha ordinato nuovi container pari a 142.218 teu (contro 119.466 teu ordinati nel 2002). Gli ordinativi del gruppo - ha precisato COSCO Pacific - rappresentano il 12,9% della nuova produzione mondiale del 2003 di container destinati al noleggio.
Al 31 dicembre 2003 la flotta contenitori di Florens ammontava 808.825 teu (dell'età media di 4,3 anni), con una progressione del 14,2% rispetto ai 707.890 teu (dell'età media di 4,4 anni) dell'anno precedente. La flotta di Florens è pari a circa il 9,7% della flotta mondiale di container a noleggio (9,3% nel 2002).
Il principale cliente di Florens è la compagnia di navigazione Cosco Container Lines (Coscon). La società ha dichiarato che il numero dei suoi clienti al 31 dicembre scorso era di 202 unità (176 al 31 dicembre 2002). Alla fine dello scorso anno Florens aveva 310.444 teu noleggiati alla Coscon (329.028 teu nel 2002), pari al 38,4% della sua flotta.

Lo scorso anno i container terminal di COSCO Pacific hanno movimentato complessivamente 17.901.012 teu, con un incremento del 33,4% rispetto ai 13.420.639 teu movimentati nel 2002. Il gruppo detiene partecipazioni in 10 container terminal in Cina e in un container terminal a Singapore, per un totale di 51 banchine (31 nel 2002) e una capacità di movimentazione annua di 26.000.000 teu (12.800.000 teu nel 2002).
COSCO Pacific sta intanto valutando le opportunità per investire in container terminal in Nord America o in Europa. L'ingresso del gruppo in questi mercati potrebbe avvenire già quest'anno, grazie al consistente programma di investimenti - pari a 332 milioni di dollari - fissato per il 2004.

COSCO Pacific Ltd.
Results
(Source: COSCO Pacific)

	2003	2002
	US$'000	US$'000
		(Restated)

Turnover	257,495	241,644
Cost of sales	(112,417)	(102,520)
Gross profit	145,078	139,124
Other revenues	33,579	15,900
Administrative expenses	(27,010)	(23,220)
Other operating expenses (net)	(25,511)	(22,223)
Operating profit	126,136	109,581
Finance costs	(17,149)	(18,019)
Operating profit after finance costs	108,987	91,562
Share of profits less losses of
' jointly controlled entities	6,711	8,751
' associated companies	64,915	67,461
Profit before taxation	180,613	167,774
Taxation	(24,424)	(23,886)
Profit after taxation	156,189	143,888
Minority interests	(1,858)	(1,699)
Profit attributable to shareholders	154,331	142,189
Transfer to other reserves	(1,650)	(847)
Dividends	87,568	79,904

Earnings per share
Basic earnings per share	US7.1871 cents	US6.6253 cents
Diluted earnings per share	US7.1840 cents	US6.6250 cents

Segment turnover and results

	Year ended 31st December, 2003
	Container leasing and related business	Container terminal and related businesses	Banking	Other operations	Corporate	Total
	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000
Turnover
- total revenue	239,689	17,853	--	--	--	257,542
- inter-segment sales	--	(47)	--	--	--	(47)
External sales	239,689	17,806	--	--	--	257,495

Segment results	91,896	24,709	--	--	--	116,605
Unallocated costs
- net corporate expenses	--	--	--	--	(5,543)	(5,543)
- corporate finance
costs	--	--	--	--	(3,160)	(3,160)
- corporate interest
income	--	--	--	--	1,085	1,085
Operating profit/(loss)
After finance costs	91,896	24,709	--	--	(7,618)	108,987
Share of profits less losses of
- jointly controlled entities	--	511	--	6,200	--	6,711
- associated companies	--	55,153	9,762	--	--	64,915
Profit before taxation						180,613
Taxation						(24,424)
Profit after taxation						156,189
Minority interests						(1,858)
Profit attributable to shareholders						154,331

COSCO Pacific
Container terminals

	Shareholding %	Total area (sq.m.)	Number of berths	Water depth of berth (m.)	Annual capacity (TEUs)
COSCO-HIT	50	300,000	2	15.5	1,800,000
Yantian International Terminals	5	1,180,000	5	14.0'15.5	4,500,000
Yantian International Terminals Phase III	4.45	900,000	4	16	2,400,000
Shekou Terminals	17.5	234,000	2	14	1,300,000
Shanghai Terminals	10	830,000	10	9.4'10.5	3,500,000
Shanghai Pudong International Terminals	20	500,000	3	12	2,300,000
Zhangjiagang Win Hanverky Terminal	51	200,000	2	11	300,000
Qingdao Qianwan Terminal	20	2,250,000	11	17.5	6,500,000
Qingdao Cosport Terminals	50	250,000	1	13.5	600,000
Dalian Port Container Co., Ltd.	8	726,000	9	12.1'14.0	1,800,000
COSCO-PSA Terminal	49	228,000	2	15	1,000,000
Total			51		26,000,000

	2003⁽¹⁾	2002⁽¹⁾
	Throughput	Throughput
	(TEUs)	(TEUs)	+/-
COSCO-HIT	1,513,559	1,526,074	-0.8%
River Trade Terminal in Tuen Mun, Hong Kong⁽²⁾	1,074,348	1,797,096	-40.2%
Yantian International Terminals Phases I, II and III⁽³⁾	5,258,106	4,181,478	+25.7%
Shekou Terminals	1,323,235	883,572	+49.8%
Shanghai Terminals	3,400,963	3,049,080	+11.5%
Shanghai Pudong International Terminals⁽⁴⁾	1,766,351	N/A	N/A
Zhangjiagang Win Hanverky Terminal	247,306	202,348	+22.2%
Qingdao Qianwan Terminal (Phase II)⁽⁵⁾	1,332,746	N/A	N/A
Qingdao Cosport Terminals	244,159	454,528	-46.3%
Dalian Port Container Co., Ltd.	1,644,409	1,326,463	+24.0%
COSCO-PSA Terminal⁽⁶⁾	95,830	N/A	N/A
Total throughput	17,901,012	13,420,639	+33.4%

Notes:
(1)	The data represent throughput as from the effective date of acquisition of the interests.
⁽²⁾	The 10% equity interest in the River Trade Terminal was disposed of on 27th June, 2003.
⁽³⁾	The first 2 berths of Yantian International Terminals Phase III became operational in October and November 2003 respectively, with the other 2 berths operational in 2004.
⁽⁴⁾	Shanghai Pudong International Terminals officially opened for business on 1st March, 2003.
⁽⁵⁾	The acquisition of 20% interests in Qingdao Qianwan Terminal (Phase II) by the Group was entered into in July 2003 and completed in December in the same year. Qingdao Qianwan Container Terminal Co., Ltd., restructured after the inclusion of Qingdao Qianwan Terminal Phases II and III officially opened for business on 1st January, 2004.
⁽⁶⁾	COSCO-PSA Terminal officially opened for business on 1st November, 2003. One berth was being operated during the year with planned expansion to two berths prior to 2008.
⁽⁷⁾	Cheer Hero Development Limited (''Cheer Hero Terminal''), a subsidiary of Plangreat Limited which is in turn a wholly owned subsidiary of the Group, registered a throughput of 56,597 TEUs (2002 : 65,935 TEUs). Taking this into account, the Group achieved a total throughput of 17,957,609 TEUs in 2003 (2002: 13,486,574 TEUs) or a 33.2% growth year-on-year.

During 2003 the following 3 new terminal projects that COSCO Pacific has interest became operational and another terminal project started operation:

Joint Venture	Date operational	Berths	Annual capacity (TEUs)
Yantian International Terminals
Phase III (started operation)	October 2003	4	2,400,000
Shanghai Pudong International Terminals	March 2003	3	2,300,000
COSCO-PSA Terminal	November 2003	2	1,000,000
Qingdao Qianwan Terminal	January 2004	11	6,500,000
Total		20	12,200,000