COSCO SHIPPING Ports announces FY2019 results
COSCO SHIPPING Ports Limited, the world’s leading ports operator, today announced full year results of the company and its subsidiaries (the “Group”) for they earended 31December 2019.
Total throughput of the Group grew steady. 2019 full-year total throughput increased by 5.5% to 123,784,335TEU. Total throughput from subsidiaries increased by 11.5% to 25,104,282TEU. Total equity throughput increased by 7.0% to 39,670,783TEU .
In 2019, total throughput of the Greater China region increased by 3.4% to 95,789,852 TEU in 2019 (2018: 92,597,126 TEU) and accounted for 77.4% of the Group’s total. Total throughput of the Bohai Rim region increased by 6.1% to 40,659,612TEU in 2019 (2018: 38,328,815 TEU) and accounted for 32.8% of the Group’s total. In particular, throughput of QPI grew by 8.7% to 21,010,000 TEU (2018: 19,320,000 TEU).
During the year, repositioning of several ports by Liaoning Port Group upon its consolidation has resulted in the business diversion of domestic trade of Dalian Container Terminal and a decrease in business volume. As such, throughput of Dalian Container Terminal declined by 10.4% to 8,525,291TEU (2018: 9,512,744 TEU).
During the period, total throughput of the Yangtze River Delta region increased by 2.2% to 20,238,468 TEU (2018: 19,808,646 TEU) and accounted for 16.4% of the Group’s total. Throughput of Nantong Tonghai Terminal reached 1,135,840 TEU (August to December 2018: 264,255 TEU). Shanghai Pudong Terminal recorded a decrease of 2.0% in throughput to 2,550,390 TEU (2018: 2,602,151 TEU). Shanghai Mingdong Terminal recorded a decrease of 1.5% in throughput to 6,160,365 TEU (2018: 6,252,083 TEU).
Total throughput of the Southeast Coast region increased by 1.5% to 5,783,821 TEU (2018: 5,699,718 TEU) and accounted for 4.7% of the Group’s total. During the year, throughput of Xiamen Ocean Gate Terminal increased by 4.7% to 2,061,341 TEU (2018: 1,968,613 TEU). Pearl River Delta Total throughput of the Pearl River Delta region increased by 0.3% to 27,469,330 TEU (2018: 27,388,896 TEU) and accounted for 22.2% of the Group’s total. Benefitting from the support of shipping alliances, throughput of Guangzhou South China Oceangate Terminal increased by 8.9% to 5,624,830 TEU (2018: 5,164,923 TEU). Southwest Coast Total throughput of the Southwest Coast region increased by 19.5% to 1,638,621 TEU (2018: 1,371,051 TEU) and accounted for 1.3% of the Group’s total.
Total throughput of overseas portfolio increased by 13.0% to 27,994,483 TEU (2018: 24,768,234 TEU) and accounted for 22.6% of the Group’s total. Supported by increased calls from the OCEAN Alliance and THE Alliance, throughput of Piraeus Terminal increased by 17.0% to 5,158,626 TEU (2018: 4,409,205 TEU). With two new berths added in January 2019 in response to increasing regional demand, throughput of COSCO-PSA Terminal remain stable and increased by 56.7% to 5,011,091 TEU (2018: 3,198,874 TEU). Throughput of CSP Spain Group remain stable and slightly decreased by 1.0% to 3,585,276 TEU (2018: 3,622,200 TEU).
About COSCO SHIPPING Ports
COSCO SHIPPING Ports Limited, a leading ports operator in the world; its terminals portfolio covers the five main port regions in Mainland China, Southeast Asia, Europe, the Mediterranean and the BlackSea. As at 31December2019, CSP operated and managed 290 berths at 36ports worldwide, of which 197 were for containers, with a combined annual handling capacity of 113million TEU. COSCO SHIPPING Ports has adopted "The Ports for ALL" as its mission and is working towards building a global terminal network with controlling stake that offers linkage effects on costs, services and synergies, a synergistic platform that offers mutual benefits to all in the shipping industry, connecting global routes and becoming truly "the ports for all people".