Cosco Pacific profit up 43.2 per cent to US$119.8 million in 2010

COSCO PACIFIC, the Hong Kong-based terminal operator and container leasing arm of the China Cosco group, has revealed a year-on-year 43.5 per cent increase in 2010 operating profit to $119.8 million, drawn on revenues of $195.6 million, up 63.5 per cent.


Throughput at terminals in which Cosco owns a stake increased 19.4 per cent to 48.5 million TEU. Volumes, when measured by Cosco's holdings in these in these terminals, rose 29.3 per cent to 12.2 million TEU, reported American Shipper. Last year's big contributors were the new Cosco terminal in Piraeus, Greece, and the 10 per cent purchased the Shenzhen-Yantian terminal.


Container leasing profit rose 35 per cent to $96.4 million, fuelled by renewed and robust demand for boxes after the global downturn. Box making profits soared 197.5 per cent to $91.8 million, said the company, adding that its container fleet expanded 3.1 per cent in 2010 to 1.6 million TEU, while fleet deployment increased 6.7 per cent to 97.3 per cent.
(Source:http://www.schednet.com)