Global Ports suffers badly in half year results

Global Ports Investments’ profit attributable to the owners plunged by 110.5% into loss in the company’s half year report, as it leaked US$12.1m.

Profit before income tax also suffered badly, plummeting by 98% to just US$3m in its half year results, with the operator hit by the troubled Russian economy.

The Russian container market has performed well so far this year, growing by 15.7%, but Global Ports’ own throughput grew by just 2.2% to 587,000 teu.