China COSCO’s 1st quarter volume up, revenue down
COSCO Container Lines moved 1.13 million TEUs in the first quarter, up 10 percent compared to the same quarter last year.
Despite the box growth, COSCO’s parent company, China COSCO Holdings Co. Ltd., said revenue from container shipping fell 5 percent compared to the first quarter 2005 to RMB 7.29 billion ($910 million).
Total throughput at China COSCO Holdings’ container terminals jumped 20 percent to 6.93 million TEUs in the first quarter.
China COSCO Holdings owns 100 percent of COSCO Container Lines and about 50 percent of the port and container leasing company COSCO Pacific. In turn, COSCO Pacific has a 49 percent stake in COSCO Logistics.
China COSCO’s 1st quarter volume up, revenue down
