Cosco Pacific Sees Slowdown in Container Throughput Growth
- Business & Finance
Hong Kong-based container terminal operator Cosco Pacific Limited, part of Cosco Group, saw a weaker than expected container throughput in the first nine months of 2015 due to ”slower global economic growth and negative growth in China’s exports and imports,” the company said in its report on financial and operational highlights in 2015.
For the three months and nine months ended September 30, Cosco Pacific’s total throughput rose 0.3% to 17,651,269 TEUs and 2.8% to 51,483,104 TEUs, respectively, compared to 17,605,389 TEUs and 50,086,956 TEUs reported for the three months and nine months ended September 30, 2014.
Equity throughput dropped 0.9% to 4,918,354 TEUs in the 3Q2015, and rose 0.9% to 14,381,070 TEUs for the first nine months of the year.
The company’s profit attributable to equity holders decreased by 14.3% to USD 74.47 million in the 3Q2015, compared to USD 86.94 million recorded in 3Q2014.
For the nine months ended September 30, profit attributable to equity holders of the company increased by 2.2% to USD 238.9 million. Cosco Pacific’s profit for the first nine months of 2014 stood at USD 233.7 million.