COSCO SHIPPING Ports exceeds 130 million TEUs in 2022, reports annual revenue of US$1.4 billion

COSCO SHIPPING Ports, a global port operator, released its annual results for the fiscal year that concluded on 31 December 2022.

The Chinese port giant said that in 2022 its total throughput was 130,107,074 TEUs and rose by 0.6% year-on-year. Total equity throughput was 42,069,050 TEUs with a growth of 5.5% and total throughput from subsidiaries was 31,627,734 TEUs with a rise of 35.3%.

COSCO SHIPPING Ports’ total revenues for 2022 rose 19.3% to US$1.4 billion, gross profit grew by 32.1% to...

https://container-news.com/cosco-shipping-ports-exceeds-130-million-teus-in-2022-reports-annual-revenue-of-us1-4-billion/

COSCO Shipping Ports invests in Egypt’s box terminal

COSCO SHIPPING Ports Limited (CSPL) has announced its investment in 25% of the equity in Sokhna New Container Terminal, Egypt.

On 15 March, Zhao Fengnian, chief accountant of the company representing CSPL, attended the signing ceremony in Cairo, Egypt, and signed the project agreement with the other partnering companies.

This project is a new terminal built by the Egyptian government and will be a project constructed and operated by a terminal company formed by industry leaders including CSPL.

The...

https://container-news.com/cosco-shipping-ports-invests-in-egypts-box-terminal/

COSCO SHIPPING Ports buys stakes in two Xiamen firms

COSCO SHIPPING Ports confirmed the completion of the acquisition of 56% of the equity interest in Xiamen Haicang Free Trade Port Zone Company and 30% of the equity interest in Xiamen Ocean Gate Termina.

After the completion of the transaction, the Free Trade Port Zone Company will become a subsidiary business of COSCO SHIPPING Ports as well as its first supply chain platform.

COSCO SHIPPING Ports intends to use Xiamen in China as the core of its overall strategic layout, expanding the terminal’s...

https://container-news.com/cosco-shipping-ports-buys-stakes-in-two-xiamen-firms/

COSCO SHIPPING Ports reports box volume drop in January

COSCO’s port operating subsidiary, COSCO SHIPPING Ports saw its total container throughput decrease by 10.3% in January, compared with the same month last year.

In particular, the Chinese operator handled more than 7.7 million TEUs in the first month of the year across all of its ports and terminals worldwide.

According to the company, the main reason is that the Chinese New Year holidays in 2023 were in January compared to last year’s holidays in February.

COSCO SHIPPING Ports’ overseas portfolio...

https://container-news.com/cosco-shipping-ports-reports-box-volume-drop-in-january/