Independent journal on economy and transport policy
06:01 GMT+1
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COSCO Group's first quarter operating profit and net profit fell by -34.2% and -38.3%
The container fleet carried 5.61 million teu (-4.7%)
April 30, 2020
The group's operating costs were 32.8 billion yuan(up 5.6%), of which 32.0 billion related to the containerized shipping (5.8%) including a supply of 22.0 billion from COSCO Shipping Lines (up 4.3%) 1.2 billion from COSCO Shipping Ports (2.2%).
COSCO Shipping Holdings ended the first quarter of 2020 840.2 million yuan and net profit 674.2 million yuan, down -34.2%, respectively 38.3% on the same period last year.
In the first three months of this year, the container fleet of the group carried a total of 5.61 load volumes million teu (-4.7%), of which 4.01 million teu transported by COSCO Shipping Lines (-6.3%). On routes only Asian-Asian countries, including those with Australia, have been 1.83 million teu (-0.6%) including 1.14 million teu COSCO Shipping Lines (up 1.9%). On routes between Asia and Europe/Mediterranean 1.13 million teu (-0.5%), with 801,000 teu transported by COSCO Shipping Lines (-1,4%). The group's trans-Pacific containerized services 1.02 million teu (-4.3%), of which 566 thousand teu COSCO Shipping Lines (-8.7%). On domestic routes Chinese ships, which are served only by COSCO Shipping Lines ships, 1.05 million teu (-16.4%) were transported. On the other world routes, including transatlantic routes, volumes transported 578 thousand teu (-1.4%), of which 451 thousand teu COSCO Shipping Lines (-3.9%).
Intra-Asian services and Australia generated revenues 9.16 billion yuan, or 18.5%, of which 5.71 billion yuan generated by COSCO Shipping Lines (21.0%). Revenues generated by lines between Asia and Europe/Mediterranean totaled 7.39 billion yuan ( .4.2%), including 5.19 billion yuan by COSCO Shipping Lines (2.8%). Trans-Pacific services recorded revenues of 8.99 billion yuan (-2.1%), including 5.08 billion yuan COSCO Shipping Lines (-6.1%). China's national services have 2.47 billion yuan (-7.1%), of which 2.49 billion yuan COSCO Shipping Lines (-6.8%). Other scheduled services group's global worlds, including transatlantic ones, have produced revenues of 4.70 billion yuan, or 9.7%, of which 3.72 billion yuan COSCO Shipping Lines (11.5%).
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The group's operating costs were 32.8 billion yuan(up 5.6%), of which 32.0 billion related to the containerized shipping (5.8%) including a supply of 22.0 billion from COSCO Shipping Lines (up 4.3%) 1.2 billion from COSCO Shipping Ports (2.2%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
