COSCO Shipping Ports continues its growth momentum in H1 2018
COSCO Shipping Ports (CSP) delivered a strong throughput in the first half of this year, due to enhanced synergies with Ocean Alliance.
As explained, driven by sustained economic growth, increase in trade volume and increased calls from the Ocean Alliance, fueled by its acquisitions and least impact by the Sino-US trade frictions, the group delivered the strong results.
CSP’s total throughput rose by 26.5% to 56.7 million TEU in H1 2018 from 44.8 million TEU recorded in the corresponding period a year earlier.
In the first half of 2018, throughput from the group’s subsidiaries increased by 35% to 10.9 million TEU and throughput from the non-controlling terminals rose by 24.6% to 45.8 million TEU.
Revenue surged by 79.7% to USD 495.5 million from USD 275.8 million year-over-year.