COSCO Shipping Ports (CSP)

Fewer boxes for COSCO SHIPPING Ports in 2022

The global port operator COSCO SHIPPING Ports (CSP) has announced declines in container volumes during November and in the first 11 months of the year.

COSCO’s port operating arm reported a year-on-year 7.5% drop in November box volumes handling more than 8.5 million TEUs.

The company said the decrease was mainly due to the impact of weak demand in overseas market. While Yantian Terminal, terminals in Hong Kong and CSP Spain posted a significant decrease in monthly throughput, volumes at CSP Abu...

https://container-news.com/fewer-boxes-for-cosco-shipping-ports-in-2022/

CSP reports 129 million TEU in 2021; profit soars to US$325 million

The Chinese port operator COSCO Shipping Ports (CSP) handled a total of 129,286,375 TEU in 2021 in its terminals globally, representing a container throughput increase of 4.4% year-on-year.

During the same period, the company’s gross profit recorded a rise of almost 40% over 2020 reaching US$325.2 million, while its revenue exceeded US$1.2 billion, which translates to year-on-year growth of 20.7%.

Terminal profit from subsidiaries also surged by 156.4%, completing US$88.8 million. Additionally,...

https://container-news.com/csp-reports-129-million-teu-in-2021-profit-soars-to-us325-million/

COSCO Valencia Terminal to expand RTG crane fleet

COSCO Shipping Ports (CSP) Iberian Valencia Terminal has ordered two rubber-tyred gantry (RTG) cranes at the port equipment manufacturer Konecranes.

The cranes on the order that are expected to be delivered to the Spanish terminal in the third quarter of 2022 are similar to Valencia terminal’s existing fleet of 39 Konecranes RTGs.

“We’ve been working with Konecranes for years. They have always followed through on their commitments with excellent local support,” said the general manager of...

https://container-news.com/cosco-valencia-terminal-to-expand-rtg-crane-fleet/

COSCO Shipping Ports extends contract with Port of Zeebrugge

COSCO Shipping Ports (CSP) and the Port Authority of Zeebrugge have extended the current concession agreement by 15 years.

The concession period for the CSP Zeebrugge container terminal at the Albert II dock in the outer port will therefore run from now on until 31 December 2055, with the possibility of longer duration, if mutually agreed.

This extension will allow the Chinese port operator to further invest in the infrastructure and handling equipment of the Belgian port. With the hub strategy,...

https://container-news.com/cosco-shipping-ports-extends-contract-with-port-of-zeebrugge/

Cosco Shipping Ports doubles its profit

The global major port operator Cosco Shipping Ports Limited (CSP) has published its interim financial and operational results for the first half of the year, recording increases in all sectors.

In particular, CSP’s gross profit had a robust rise of 49.6% over H1 of 2020, exceeding US$148 million, while gross profit margin increased by 4.4 percentage points, to 26.3%.

During the same period, the company’s revenue grew by 24.8%, reaching US$175.6 million, and the cost of sales increased by 17.8% to...

https://container-news.com/cosco-shipping-ports-doubles-its-profit/

CSP Abu Dhabi terminal to adopt Middle East first autonomous truck system

The first autonomous port truck system in the Middle East is about to be implemented in the COSCO Shipping Ports (CSP) Abu Dhabi container terminal of the Khalifa Port.

After a trial period of two months, the equipment of six electric Q-Trucks is going to be commissioned by CSP Abu Dhabi Terminal, aiming to improve the efficiency of container loading and unloading activities, while it is also anticipated to deliver reduced transformation and operating costs.

Produced by Qomolo, a sub-brand of...

https://container-news.com/csp-abu-dhabi-terminal-to-adopt-middle-east-first-autonomous-truck-system/

Port of Zeebrugge sees strong intermodal offer

Port of Zeebrugge has seen new rail services with Terminal Container Athus (TCA) and the Swiss-based rail operator Hupac Intermodal commencing new intermodal products in the Belgian port.

Firstly, TCA is restarting a weekly container train between Zeebrugge and Athus aiming to serve only maritime cargo. Additionally, Cosco Shipping Ports (CSP) and TCA will transport containers from two calls of the Ocean Alliance, which includes COSCO, OOCL, CMA CGM and Evergreen Line.

The terminals will...

https://container-news.com/port-of-zeebrugge-sees-strong-intermodal-offer/

COSCO in talks to acquire HHLA terminal stake

Hamburger Hafen und Logistik AG (HHLA) and COSCO SHIPPING Ports Limited (CSPL) are negotiating the purchase of a minority shareholding by CSPL in HHLA Container Terminal Tollerort GmbH (CTT), a wholly-owned subsidiary of HHLA.

CTT operates Container Terminal Tollerort, the smallest facility of the three HHLA container terminals in the Port of Hamburg, and is part of the HHLA Group’s Container segment.

HHLA has confirmed that the two sides are currently discussing the commercial and legal...

https://container-news.com/cosco-in-talks-to-acquire-hhla-terminal-stake/

COSCO’s Q1 profit 26 times higher than 2020

COSCO Ship Holdings (CSH), the container arm of the China COSCO group, said on 29 April that Q1 2021 net profit rose 26-fold, rising to CNY17.8 billion (US$2.71 billion), as the remarkable recovery in container shipping continued.

Revenue was up 80% to CNY64.84 billion (US$9.87 billion), with income from container shipping up 82% to CNY63.52 billion (US$9.67 billion). The Asia-Europe, Intra-Asia and Transpacific routes were the three highest contributors to the group’s revenue from container...

https://container-news.com/coscos-q1-profit-26-times-higher-than-2020/

HIT introduces remote reefer monitoring

Hongkong International Terminals (HIT), part of the CK Hutchison conglomerate, has launched a 24-hour automated remote reefer container monitoring and management system with the aim of capturing the growing business opportunities in the cold chain logistics market.

Market research website, MarketandMarkets.com estimates the global cold chain market size was valued at US$233.8 billion in 2020 and is projected to reach US$340.3 billion by 2025, as demand for reefers is expected to grow.

Please logi...

https://container-news.com/hit-introduces-remote-reefer-monitoring/

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