Independent journal on economy and transport policy
12:18 GMT+1
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COSCO expects to close the third quarter with a record profit for shareholders up by +1,019.7%
In the period July-September of this year the containerized volumes transported by the fleet have decreased of -6.7%
October 11, 2021
Motivating the very significant increase in expected profits, the group explained what was in the period the evolution of the market in which the Chinese company operates, specifying that in the former nine months of this year the world's major economies have gradually resumed and, due to the overlapping of the effects increased demand, the COVID-19 pandemic and limited supply, the global supply chain has been confronted with the challenge and impact of congestion ports, shortage of containers and delays in transport internals that have generated pressure on the relationship between demand and offer.
COSCO Shipping has announced that in the first nine months of 2021 the own fleet of carriers has transported cargo containerized equal to over 20.4 million teu, with a progression of +8.0% on the same period last year. On on the basis of this figure, it can be deduced that in the third quarter of 2021 alone, volumes transported by the fleet amounted to about 6.6 million of teu, with a decrease of -6.7% compared to 7.1 million teu in the period July-September of 2020.
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Motivating the very significant increase in expected profits, the group explained what was in the period the evolution of the market in which the Chinese company operates, specifying that in the former nine months of this year the world's major economies have gradually resumed and, due to the overlapping of the effects increased demand, the COVID-19 pandemic and limited supply, the global supply chain has been confronted with the challenge and impact of congestion ports, shortage of containers and delays in transport internals that have generated pressure on the relationship between demand and offer.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
