Independent journal on economy and transport policy
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New record quarterly financial period for the Chinese shipowning group COSCO
In the period July-September the containerized volumes transported by the fleet have decreased of -6.7%
November 15, 2021
If the financial results have reached all-time highs, in the third quarter of this year the volumes of containerized cargoes transported by the group's fleet, on the other hand, have decreased being states equal to 6.6 million teu (-6.7%). The downturn, that the group Chinese has attributed to the dysfunctions of the world supply chain that have extended the parking of containers on the port docks and have made it difficult to find containers to use, covered almost all the sea routes on which COSCO uses its ships: the total transported on the routes transpacific was 1.2 million teu (-10.7%), on those Asia-Europe were transported 1.3 million teu (-1.5%), on intra-Asian routes 2.0 million teu (-4.1%) and on Chinese domestic sea routes 1.3 million teu (-18.6%). The only increase was recorded by the volumes transported on the other international routes operated by the group that have been equal to 728 thousand teu (+13.0%). In the third quarter of 2021, ships of cosco Shipping Lines alone, which is the main shipping company of the group, they transported 4.8 million of teu (-6.5%).
Despite the reduction in the volumes of cargo transported in the third quarter of this year, the significant increase in the value of maritime freight has allowed the Chinese group to increase strong revenues generated by the activity of the fleet of portacontainer that stood at 85.6 billion yuan (+114.5%), of which 25.0 billion produced by the fleet used on transpacific routes (+85.4%), 26.6 billion from ships operating on the Asia-Europe routes (+201.4%), 18.6 billion from fleet used in intra-Asian services (+93.9%), 12.1 billion from ships in operation on other international routes (+158.8%), while the revenues generated by the ships used decreased on Chinese domestic routes being amounted to 3.2 billion yuan (-2.0%).
As of 30 September, the group's fleet consisted of 517 container ships with a carrying capacity of almost three million teu.
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If the financial results have reached all-time highs, in the third quarter of this year the volumes of containerized cargoes transported by the group's fleet, on the other hand, have decreased being states equal to 6.6 million teu (-6.7%). The downturn, that the group Chinese has attributed to the dysfunctions of the world supply chain that have extended the parking of containers on the port docks and have made it difficult to find containers to use, covered almost all the sea routes on which COSCO uses its ships: the total transported on the routes transpacific was 1.2 million teu (-10.7%), on those Asia-Europe were transported 1.3 million teu (-1.5%), on intra-Asian routes 2.0 million teu (-4.1%) and on Chinese domestic sea routes 1.3 million teu (-18.6%). The only increase was recorded by the volumes transported on the other international routes operated by the group that have been equal to 728 thousand teu (+13.0%). In the third quarter of 2021, ships of cosco Shipping Lines alone, which is the main shipping company of the group, they transported 4.8 million of teu (-6.5%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
