Deterioration of the economic results of Chinese group COSCO Shipping in according to trimester



The shipowning group and harbour Chinese COSCO Shipping Holdings has closed the second trimester of this year with an economic result clearly of competence of the shareholders of sign negative and pairs to -140,1 million yuan (20 million dollars) respect to a profit for the shareholders of 1,6 billion yuan in the period April-june of 2017. The revenues have recorded a bending of -1,0% attesting itself to the 23,1 billion one yuan, of which 21,8 billion (- 3.2%) generated from the activity of the fleet of portacontainer of the group operated from the company of navigation COSCO Shipping Lines and 1,6 billion (+125.6%) from the activity of managed the harbour terminals of the group through the participated COSCO Shipping Ports. The operating profit is piled to 532,0 million yuan (- 86.8%) and the profit to clearly 273,4 million yuan (- 90.6%).

In according to trimester of the 2018 fleet of portacontainer of COSCO Shipping Lines it has transported cargo volumes pairs to 6,0 million teu, with a progression of +12.9% regarding the same period last year. Moreover in the period April-june of this year the harbour terminals of COSCO Shipping Ports have enlivened a containerized trade pairs to 24,7 million teu (+12.0%), since it does not include the traffic enlivened from the participated Qingdao Port International (QPI) that it has entered in the perimeter of consolidation of the group from last May.

In entire the first semester of the 2018 fleet of COSCO Shipping Lines it has transported 11,2 million teu, with an increment of +12.4% on the first half last year. Al 30 last June the fleet of the company was constituted by 393 ships (+9.2% on on December 31, 2017) for a cargo ability pairs to 2,0 million teu (+12.3%). We remember that in the first six months of this year the total containerized trade enlivened from the terminals of COSCO Shipping Ports, included that enlivened from the activities more recent acquisition, has been pairs to 56,7 million teu (+26.5%)(on 27 August 2018).

In the first semester of this year the revenues of group COSCO Shipping Holdings have totaled 45,0 billion yuan (+3.7%), of which 42,4 billion produced from the segment of containerized marine transport (+1.3%) and 3,2 billion from the segment of harbour terminals (+96.2%). Operating and useful profit clearly has marked decreases respective of -74,3% and -77,4% coming down to the 1,1 billion one yuan and 769,1 million yuan. The profit of competence of the shareholders has been of 40,8 million yuan (- 97.8%).