The semiannual results of Lower COSCO and of Shipping Lowers Lines Container



The Chineses Lower COSCO Holdings Co. and Shipping Lowers Container Lines (CSCL), than by 18 February - with the fusion of shipowning groups COSCO and Shipping Lowers - they take part of the group Lowers COSCO Shipping Corporation (COSCOCS), have communicated achieved the economic and operating results in the first six months of 2016.

COSCO lowers, than in recent days it has anticipated to have recorded a loss for the shareholders of about -1,08 billion dollars ( on 25 August 2016), it has announced that the revenues from the running activities are piled to 29,63 billion yuan (beyond 4,4 billion dollars), with an increment of +2.6% regarding the first half of 2015. With the COSCO fusion and China COSCO Lowers Shipping has obtained the entire management of the activities of containerized marine transport and of the terminalistiche activities of new shipowning group COSCOCS, carried out respective through the society integrally controlled COSCO Container Lines (COSCON) and through the COSCO Pacific, society that in recent days has changed the corporate name in COSCO Shipping Ports and of which It lowers COSCO stops 43% about of the capital.

In the first semester of this year the sun activity of containerized marine transport of Lowers COSCO has totaled revenues pairs to 27,64 billion yuan (+2.5%). In particular the market American has generated revenues pairs to 7,43 billion yuan (- 11.0%), the European market pairs to 5,83 billion yuan (+11.1%), the Chinese domestic market to 7,76 billion yuan (+9.2%) and in the remainder of Asia and Oceania the revenues have been attested 5,15 billion to yuan (+0.9%).

In the first six months of the 2016 fleet operated from COSCON, than by 1° March it has acquired rental the portacontenitori ships of the CSCL, has transported containerized cargo volumes pairs to 7.413.378 teu, with an increment of +39.2% on the first half of 2015. COSCO lowers has announced that in the first semester of this year the average cost for teu has turned out down of the -13,2% being piled to 3.600, 44 yuan, cost that - to clearly of the relative costs to the fuel - has turned out pairs to 3.262, 81 yuan/teu, down of -7,1%. The medium hire for container teu has turned out pairs to 3.173, 51 yuan, with a bending of -23,9%.

Al the 30 last June fleet of portacontainer of COSCON was constituted by 304 ships for a total cargo ability pairs to 1.611.208 teu. The company has in course ulterior orders for 21 portacontainer for an additional ability pairs to a total of 326.960 teu. Moreover CSCL and its branches have in course orders for others 14 portacontainer of the total ability to 234.000 teu that they will be operated rental by the COSCON.

In the first semester of this year the terminalistiche activities of Lower COSCO have produced to revenues pairs to 1,69 billion yuan (+11.4%). The Chinese terminals of the group have generated revenues pairs to 1.08 billion yuan (+4.8%), while the harbour terminals in Europe have totaled revenues pairs to 583 million yuan (+29.4%). In the first six months of the 2016 terminal of COSCO Shipping Ports they have enlivened a traffic of the container pairs to 46,0 million teu, with an increase of +3.5% ( on 18 July 2016).

The group Lowers COSCO has closed the first semester of this year with an operating result of sign negative and pairs to -3,06 billion yuan respect to an operating profit of 1,91 billion yuan in the first six months of 2015. The economic result clearly has been of sign negative and pairs to -6,80 billion yuan respect to a profit of clearly 2,74 billion yuan in the first half of the exercise precedence.

Shipping lowers Lines Container, whose activity after the fusion of the group leader with the COSCO has been centralized on the chartering of own portacontainer, has archived item the first half of 2016 with revenues pairs to 8,38 billion yuan, with a decrease of -49,7% regarding revenues rectified in order taking into consideration the results recorded from the branches acquired from CSCL as a result of the fusion pairs to 16,65 billion yuan. The operating profit is piled to 81,3 million yuan (- 91.8%) and the result clearly has been of sign negative for -806,9 million yuan respect to a profit of clearly 888,7 million yuan in the first semester last year.

Al 30 last June the CSCL fleet was constituted by 115 portacontenitori for an ability total pairs to 842.000 teu, of which 74 ships of property for an ability to 582.000 teu.

In the first semester of this year the transported containerized volumes from the CSCL fleet have been pairs to 1.059.103 teu, traffic that is totaled in the first two months of the period before the cession of the services of transport to the COSCON and that it turns out down of the -73% regarding the first half of 2015.