Rise in liftings boosts China Cosco Holdings revenue
Box line and terminal operator, China Cosco Holdings, reported a continued increase in liftings, revenue and throughput today for the third quarter to September 30. The firm said Coscon posted a 7.6% rise in revenue to Yuan9.2bn (US$1.16bn) in the third quarter following a 16.4% rise in liftings to 1.38m teu. This compared with revenue of Yuan8.56bn on liftings of 1.18m teu in the same period last year. The biggest gain in revenue was on China routes where revenue rose 24.9% to Yuan451.2m on the back of a 24.6% rise in box volumes to 230,655 teu.
On other international routes, the largest increase in revenue was on Asia-Europe services which also included the Mediterranean, where turnover rose 14.5% to Yuan2.87bn, up from Yuan2.51bn in the third quarter last year. Liftings on this sector surged 25.6% to 336,048 teu, against 267,504 teu a year earlier. Intra-Asia services saw an 8.2% rise in revenue to Yuan1.57bn, up from almost Yuan1.46bn last year, following a 17.4% increase in liftings to 408,603 teu, against 348,116 teu previously.
On other international routes, the largest increase in revenue was on Asia-Europe services which also included the Mediterranean, where turnover rose 14.5% to Yuan2.87bn, up from Yuan2.51bn in the third quarter last year. Liftings on this sector surged 25.6% to 336,048 teu, against 267,504 teu a year earlier. Intra-Asia services saw an 8.2% rise in revenue to Yuan1.57bn, up from almost Yuan1.46bn last year, following a 17.4% increase in liftings to 408,603 teu, against 348,116 teu previously.
