Cosco Shipping Ports 2022 throughput exceeds 130m TEU
CHINA's Cosco Shipping Ports Limited has announced that its total throughput for 2022 increased by 0.6 per cent from 2021 to 130.10 million TEU.
The company's 2022 full year total equity throughput increased by 5.5 per cent year on year to 42.07 million TEU, reports London's Port Technology.
The shipping company also experienced an increase in revenue by 19.3 per cent from 2021 to US$1.4 billion, while gross profit increased by 32.1 per cent to $429.7 million.
Cosco Shipping Ports has undergone a number of investments and acquisitions that have contributed to its continued financial growth.
In October 2022, Cosco Shipping Holdings announced plans to invest CNY19.7 billion ($2.7 billion) to raise its stake in two major Chinese ports.
Earlier this year, Cosco Shipping Holdings agreed to pay CNY5.5 billion to buy a 5.8 per cent stake in logistics company COFCO Fortune.
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