Shipper's net climbs
Source: Xinhua |
August 25, 2010, Wednesday
|
Print Edition
Print Edition
COSCO Pacific said yesterday its profit in the first half of this year rose 81.7 percent to US$190 million from a year earlier.
In a filing to the Hong Kong stock exchange, the firm said revenue increased 40 percent to US$222.6 million. The container throughput jumped an annual 18.7 percent to 22.43 million TEUs (twenty-foot equivalent units).
Driven by the economic recovery, COSCO Pacific's terminal and container leasing businesses grew in the first half of the year. However, some of the terminals were still in their early phases of ramping up and resulting in initial losses, according to their statement.
During the first half of the year, long-term leases contributed 92.5 percent of the group's container leasing income. It is expected that the overall utilization rate will remain high in the second half of this year, the group said.
In a filing to the Hong Kong stock exchange, the firm said revenue increased 40 percent to US$222.6 million. The container throughput jumped an annual 18.7 percent to 22.43 million TEUs (twenty-foot equivalent units).
Driven by the economic recovery, COSCO Pacific's terminal and container leasing businesses grew in the first half of the year. However, some of the terminals were still in their early phases of ramping up and resulting in initial losses, according to their statement.
During the first half of the year, long-term leases contributed 92.5 percent of the group's container leasing income. It is expected that the overall utilization rate will remain high in the second half of this year, the group said.
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