Shanghai port’s biggest operator is hit by China’s economic slowdown

Shanghai port’s biggest operator Shanghai International Port Group Co Ltd has announced an 18.3% fall in its net profit for the third quarter of 2015 compared to the same period last year amid China’s economic growth slowdown.

The terminal operator, which reported a CNY1.4bn (US$220.9m) net profit in the third quarter this year in a filing on the Shanghai stock exchange, announced that its net profit in the first nine months of 2015 fell by 3.3% to CNY4.5bn (US$710.4m).

According to Eikon, a data and financial analysis software provided by Thomson Reuters, the company’s data showed that the operator’s third quarter net profit fall marked the first decrease since the second quarter of last year.