COSCO Ports Q3 throughput rises 8.4% to 42.3 million TEU

COSCO Shipping Ports Limited (CSP) said its terminals handled 42,266,553 TEU in the third quarter, up 8.4% from a year earlier. Equity throughput rose 8.1% to 12,884,563 TEU.

Revenue rose 13.0% to US$484.3 million and gross profit climbed 19.3% to US$128.1 million, the company said in a statement. Profit attributable to equity holders was nearly flat, up 0.1% to US$82.6 million. For the first nine months, throughput rose 8.1% to 122.4 million TEU, revenue rose 12.6% to US$1.39 billion and profit rose 19.7% to US$316.3 million.

Overseas terminals handled 11.3 million TEU, up 19.4% and 26.8% of the group total. Piraeus in Greece grew 11.4% to 1.09 million TEU on Mediterranean demand. Chancay in Peru rose 24.9% to 139,669 TEU after CSP completed its “three mainlines and five feeders” route layout.

China terminals, 73.2% of throughput, rose 4.9% to 30.9 million TEU. The Pearl River Delta grew 7.6% and the Bohai Rim 4.3%, while the Yangtze River Delta slipped 0.3%. CSP said AI-related investment demand supported high-tech exports through Dalian, where throughput rose 6.7%.

This story was originally published by PortCalls Asia. Read the full story at PortCalls Asia →