In the July-September period of this year, for the fourth consecutive quarterly period, Chinese shipping group COSCO Shipping Holdings Co. recorded a marked deterioration in the financial performance determined by the worsening of the results of the core business of containerized maritime transport, market which, after the exceptional development coincided with the planetary spread of the Covid-19 pandemic, is abruptly returning to the growth trend prior to the world health emergency. One market, the containerized shipping market, which has benefited during this phase of the effects of the considerable rise in shipping tariffs, has generally blamed a reduction in the volumes of cargo. transported, negative trend that has also been such for the Chinese group that since the third quarter of 2021 has blamed a decline in cargo in containers carried by its own vessels, trend that appears to have run out in the third quarter of this year when the total of the signed containers were found to be stable.

In the third quarter of 2023, the group's revenues amounted to 42.71 billion yuan (5.8 billion), down -59.6% percent on the corresponding period last year, of which 41.00 billion yuan generated by the transportation business containerized maritime (-60.6%). The reduction in business volume was accompanied by a substantial decrease in operating costs that stood at 38.85 billion yuan (-40.8%), including 77.18 billion in expenses in the containerized shipping segment (-26.5%). Operating profit was 12.44 billion (-74.6%), with an input of 9.98 billion from the container fleet (-78.9%), and the net profit of 6.32 billion yuan (-83.6%), including 4.78 billion produced by containerized shipping (-87.7%).

In the July-September period of this year, the Chinese group's ships transported cargo in containers totaling 6.06 million teu (0%), of which 4.19 million teu (-2.8%) carried by the fleet of the wholly owned company COSCO Shipping Lines and the remaining share for almost totality from the ships of the OOCL company which, through the OOIL of which COSCO owns 71.1% of the capital, is part of the Chinese group.

In the third quarter of 2023, the largest volume of cargoes was transported on the intra-Asian routes totaling 2.09 million teu (+ 2.2%), of which 1.22 million teu (-0.1%) carried by COSCO Shipping Lines, assets that generated revenues of 10.41 billion yuan (-57.2%), with an input of 6.34 billion (-56.3%) from COSCO Shipping Lines. To these volumes are added 1.12 million teu (-0.1%) carried on Chinese domestic routes alone all from the ships of COSCO Shipping Lines, for corresponding revenues of 2.82 billion yuan (-5.8%). On the Asia-Europe routes, the handling was 1.11 million teu (-0.3%), of which 718mila teu (-1.8%) carried by the group's main shipping company, a total revenue of 7.90 billion euros. yuan (-29.1%), including an injection of 5.60 billion (-66.8%) from COSCO Shipping Lines. The volumes of cargoes embarked on the vessels operating the transpacified services amounted to 1.07 million teu (-1.1%), of which 595mila teu (-10.5%) carried by COSCO Shipping Lines, for results in results of 10.27 billion (-68.2%), of which 5.78 billion yuan (-69.8%) from the main maritime carrier. Finally on the other international routes the traffic was 663mila teu (-4.4%), of which 544mila teu (-6.0%) carried by the fleet of COSCO Shipping Lines generating revenues of 5.23 billion (-58.4%) on the total 6.06 billion (-57.7%) registered in this market.

In the third quarter of this year, the traffic of the handling containers in the port terminals that charge COSCO Shipping Ports, of which the shipowners group owns 61.0% of the capital, amounted to 27.8 million teu (+ 2.1%) ( of the October 16 2023), assets that generated revenues of 358.9 million (+ 2.7%), an operating profit of 69.9 million (+ 2.6%) and a net profit of 98.4 million (-5.6%).