SIMIC

As a result of the Covid crisis, the Cosco port operator's total throughput for the Greater China region decreased 3.6 per cent to 22,520,167 TEU, accounting for 74.3 per cent of the group's total.

Despite this decline, CSP total global throughput reached 30,291,588 TEU in the first quarter, an increase of 0.3 per cent year on year.

The group said the growth was primarily driven by its subsidiary Tianjin Container Terminal. The port handled 4.63 million TEU of containers in the first three months of 2022. Total equity throughput from controlling-stake subsidiaries was 7,487,432 TEU, a 39.5 per cent increase.

Due to the continuous congestion of major ports in northwest Europe, CSP has noted that the Zeebrugge Terminal NV became an important buffer port. The terminal increased throughput 24.4 per cent year-on-year to 272,344 TEU.

CSP has acknowledged the impact of the Covid on the maritime industry, declaring its intention to focus on improving quality and efficiency, control costs, and maintain a stable financial situation.