Strong results for COSCO Shipping Ports

Revenue leapt by 80% for COSCO Shipping Ports (CSP) to US$495.5m in the first half of 2018, driven by increasing trade volume and more calls from the Ocean Alliance.

Total throughput increased by 27% to 56.7m teu, including volumes from Qingdao Port International (QPI) which have been included since May 2017. Excluding QPI, throughput increased by 13.3% to 47.3m teu on a comparable basis.

With political tensions ratcheting up between China and the US over trade, the Hong Kong-based terminal operator noted that the impact of the friction has so far been limited.