Independent journal on economy and transport policy
04:27 GMT+1
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Worsening of the economic performances of Lowers COSCO
In the third trimester the Chinese group has recorded a net loss of 325 million dollars
November 2, 2011
COSCO Holdings Co lowers., the society of shipowning group Chinese COSCO quoted to the Stock exchange of Hong Kong who work in the fields of the marine transport of the container and the bulk and in the logistics through the societies integrally controlled COSCON, Lowers Cosco Bulk and COSCO Logistics and in the terminalistico field and of the production, chartering and sale of the container through participation (42.72%) in COSCO Pacific, has closed the third trimester with a net loss of 2,07 billion yuan (325 million dollars) on revenues for 18,23 billion yuan respect to a profit clearly of 2,11 billion yuan on revenues for 21,56 billion yuan inthe correspondent period of 2010. The operating result has been negative for 1,84 billion yuan respect to an operating profit of 3,06 billion yuan in the period July-september last year.
In the first nine months of 2011 China COSCO it has totaled a net loss of 4,78 billion yuan and operating liabilities of 2,17 billion yuan on revenues for 52,46 billion yuan respect to a profit clearly of 5,65 billion and an operating profit of 8,20 billion on revenues for 59,78 billion yuan in the correspondent period last year.
In the first nine months of this year the operated fleet of portacontainer from branch COSCON, that it is constituted by 155 ships for an ability pairs to 660.608 teu, has transported cargo volumes pairs to 1.892.161 teu, with a progression of 14.2% on the same period of 2010. The medium revenue for container TEU has been pairs to 4.804 yuan (- 31.1%). The fleet of rinfusiere that it is under responsibility of Lowers COSCO, formed from 403 ships (of which 233 of property) for a total ability to 35.673.000 gross capacities in tons, has instead transported 67 million tons of cargos (- 1.8%).
COSCO lowers previews to record the entire exercise anniversary 2011 with a determined net loss - it has explained the group - from the continuous deterioration of the market of the shipping, in particular from the difficult situation of the market of the bulk transport sand banks.
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COSCO Holdings Co lowers., the society of shipowning group Chinese COSCO quoted to the Stock exchange of Hong Kong who work in the fields of the marine transport of the container and the bulk and in the logistics through the societies integrally controlled COSCON, Lowers Cosco Bulk and COSCO Logistics and in the terminalistico field and of the production, chartering and sale of the container through participation (42.72%) in COSCO Pacific, has closed the third trimester with a net loss of 2,07 billion yuan (325 million dollars) on revenues for 18,23 billion yuan respect to a profit clearly of 2,11 billion yuan on revenues for 21,56 billion yuan inthe correspondent period of 2010. The operating result has been negative for 1,84 billion yuan respect to an operating profit of 3,06 billion yuan in the period July-september last year.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
