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Qinhuangdao port's news

Qinhuangdao Port projects profit surge in first half

PostTime:2017-05-27 11:17:31 View:94

Hong Kong-listed Qinhuangdao Port Co has projected a surge in net profit for its first half ended 30 June 2017 in view of the improving market conditions. The Chinese port said in a regulatory filing to the stock exchange that its net profit attributable to shareholders of the parent for the first six months is expected to increase no less than 260% compared to the previous corresponding period, which registered a profit of RMB137m ($20.3m). Qinhuangdao Port attributed the better financial performance to improvement of the macro market environment, as well as the effective measures taken by the group to attract customers and stabilise the supply of cargoes leading to growing throughput volume. Meanwhile, Qinhuangdao Port last week inked an agreement to sell its majority stake in its container terminal operator subsidiary to its joint venture firm with Tianjin Port Group.

Qinhuangdao Port transfers stake in container terminal to jv with Tianjin Port

PostTime:2017-05-19 09:58:16 View:148

China’s Qinhuangdao Port has inked an agreement to sell its majority stake in its container terminal operator subsidiary at a consideration of RMB559.57m ($81.18m) to its joint venture firm with Tianjin Port Group. The deal will see Hong Kong-listed Qinhuangdao Port’s subsidiary Cangzhou Bohai transfer out 90% shareholding in its wholly-owned Cangzhou Bohai Jinji Container Terminal Co to Bohai Jinji Port Investment and Development Company, which is 50-50 owned by Qinhuangdao Port itself and Tianjin Port Group. “Since Bohai Jinji is a joint venture of the company and Tianjin Port Group, the transfer will bring forth the complementarity of the resources of Jinji Port and the integration of the container business of the group and Tianjin Port Group,” Qinhuangdao Port stated. The deal will also “promote the development of the group’s container business by integrating the resources of both groups, optimising location distribution and enhancing the efficient use of the ports without constructing new berths for containers.” Qinhuangdao Port further explained that the deal will increase its ability to collect resources of the group’s ports and help the group build a northern shipping center together with Tianjin Port Group. Upon completion of the equity transfer deal, Qinhuangdao Port could realise a gain of approximately RMB18.38m, which is proposed to be used as general working capital.

Qinhuangdao Port warns of up to 75% drop in 2016 net profit

PostTime:2016-12-20 08:36:00 View:107

Qinhuangdao Port has warned that it expected to see a 65% to 75% drop in net profits at its full-year results. The coal and commodities-driven northern Chinese port said in a stock market announcement that net profit for 2016 is expected to come in at RMB336m ($48.3m) to RMB471m based on its preliminary assessment for the first eleven months of the year. Qinhuangdao noted, however, that this was an improvement from the 85% plunge in net profit posted for the first six months of the year. It said that while the group has continued to strengthen its operations, it has also benefited from increased activity in the coal market since October 2016. This has led to increased coal throughput at the port compared to the first half of the year. "However, uncertainty remains in the subsequent supply and demand situation and changes of the overall coal market," Qinhuangdao warned. The group added that it has also implemented a series of internal administrative measures to enhance cost management and has managed to more effectively control costs in the second half of the year.

Qinhuangdao Port warns of sharp drop in H1 profit

PostTime:2016-07-25 18:39:48 View:134

China’s Qinhuangdao Port has warned of an 80 – 90% drop in first half profits, which it blames mainly on a drop in coal volumes. The Hong Kong-listed port group said that net profit for the six months ended 30 June 2016 would drop by 80 – 90% compared to the same period in the previous year. In the first half of 2015 the group reported a net profit of RMB929m. Qinhuangdao Port primarily blamed an increase in coal volumes which slid 34.7% in the first half of 2016 to 75.1m tonnes. “Such decrease was mainly attributable to the decrease in revenue of the group resulting from the decline in throughput of coals of Qinhuangdao Port, which was caused by the weakened supply and demand in the coal market, the increase in the number of southbound transportation channels for coals from northern region and the intensified competition from surrounding ports in the first half of 2016,” the company said. Reduced cost of domestic coal production in China has resulted in a sharp drop in coal imports into the country. Overall throughput at the group’s ports was down 18% in the first six months of 2016.

Qinhuangdao Port group sees overall throughput fall 18% in H1

PostTime:2016-07-12 08:28:34 View:153

Qinhuangdao Port Co, one of the biggest port operators in China, reported first half results that more or less reflected the general state of China's economy with overall volumes down 18% in the first half of the year. Although container volumes were up 19.7% to 527,693 teu from 441,039 teu previously sharp falls in bulk cargo tonnage meant overall throughput was significantly lower. Dry bulk cargo throughput fell 22.4% to 132.8m tonnes, the company said in a stock market announcement. Tellingly, coal throughput slid 34.7% to 75.1m tonnes while oil and liquefied chemicals throughput plunged 58% to 1.57m tonnes. Reduced cost of domestic coal production in China has resulted in a sharp drop in coal imports into the country. Throughput of metal ore cargoes was almost flat, rising just 2.6% to 57.7m tonnes from 56.2m tonnes previously. General and other cargoes, which comprise grain, fertilizer and others more than doubled to 10.5m tonnes from 5.2m tonnes previously. Overall throughput for the three ports under Qinhuangdao dropped 18.4% to 151.6m tonnes from 185.9m tonnes in the first half of 2015. Among the three ports, Qinhuangdao Port saw throughput fall 32.4% to 84.6m tonnes, Caofeidian Port saw throughput fall 12.5% to 36.6m tonnes while cargo volume at Huanghua Port rose 60.6%to 30.4m tonnes although this was from the lowest base among the three of 18.9m tonnes in the previous corresponding period.

Qinhuangdao port volume exceeds 200 million tonnes for seven years

PostTime:2013-01-16 08:52:01 View:656

PORT of Qinhuangdao, a major Bohai Sea shipping hub in Hebei province, has experienced 200 million tonnes annual throughput for seven consecutive years with the arrival of 2012 results, reports Xinhua. The port introduced series of measures to cope with the global economic downturn in 2012, enhancing efficiency and making full use of the market resources to guarantee smooth business operation for the full year. The port devoted greater effort in promoting safety while loading and unloading cargo efficiently with more safety inspections and accident emergency drills. It also focused on the environment protection to offer a improved conditions to attract new business.

Coal stocks at China's Qinhuangdao port up 13% on week

PostTime:2012-06-08 08:43:38 View:540

Coal stocks at China's Qinhuangdao port surged 12.7% to 8.76 million mt Wednesday from 7.77 million mt on May 31, Qinhuangdao Port data showed, Cargonews Asia reports. This compares with a typical stock level of 6 million-7 million mt and a record high of 9.22 million mt in mid-November 2008. With outbound coal shipments declining, stocks at Qinhuangdao have been on the rise since May 15. Coal stocks at southern China's Guangzhou and Fangcheng port also remain high. Guangzhou held 2.73 million mt Wednesday, compared with 2.78 million mt on May 31, and its coal stocks have remained above 2.7 million mt since April 19, port data showed. Stocks at Fangcheng stand at 6.5 million mt, down from 6.7 million mt May 21 and a year-to-date high of more than 8 million mt in late February, a Guangdong-based trader said, citing port figures. Separately, combined coal stocks held by the six major power generators in eastern and southern China, Zhejiang, Shanghai, Guangdong, Datang, Huaneng and Guodian, rose to 16.61 million mt Tuesday from 16.41 million mt on May 29, according to Qinhuangdao port data. This is adequate to fuel 32 days of burn, up from 29.7 days on May 29.

Qinhuangdao throughput tops 200 million tonnes in mid-September

PostTime:2011-10-17 08:12:15 View:692

THROUGHPUT at north China's port of Qinhuangdao, across the Gulf of Chihli from Dalian, surpassed 200 million tonnes in mid-September, Xinhua reports. The port handled 68.4 million tonnes of cargo in the first quarter, 6.1 million tonnes more than its target. During the first half of year, it recorded a throughput of 138.8 million tonnes, 6.3 per cent, or 8.2 million tonnes, more than in the same period in the year before.

Cargo record for Qinhuangdao

PostTime:2011-07-05 08:30:37 View:615

  A ship docks at a coal terminal in Qinhuangdao, Hebei Province. The port city handled a record high 139 million tons of cargo in the first half of this year, an increase of 8.36 million tons from a year earlier, according to statistics by local authorities.

Port to float

PostTime:2010-01-11 07:46:59 View:584

China's Qinhuangdao Port is planning a big share sale on the Shanghai Stock Exchange this year. China's largest coal facility will raise CNY 5bn ($732m) from the listing with an offering of 1.4bn shares. Caijing magazine reported that the port has hired China International Capital Corp as the underwriter, citing the parent of the port, Hebei Port Group Co.

Qinhuangdao Port coal throughput over 200m tonnes

PostTime:2008-01-07 14:22:59 View:731

Qinhuangdao Port's cargo throughput totalled 245million tonnes in 2007, increasing by 21.7 percent year-on-year.The annual coal and bulk goods throughput capacity of Qinhuangdao Port were 193 million tonnes and 14.8 million tonnes respectively.Although two wagon tippers at the port suspended operations and carried out reconstruction projects, Qinhuangdao Port's coal throughput hit 214 million tonnes in 2007, becoming the first port in the world with coal throughput exceeding 200 million tonnes. In addition, the bulk goods throughput stood at 24.08 million tonnes, while the container throughput hit 300,000 TEUs, up by 50 percent year-on-year.