The Chinese port operator COSCO Shipping Ports (CSP) handled a total of 129,286,375 TEU in 2021 in its terminals globally, representing a container throughput increase of 4.4% year-on-year.
During the same period, the company’s gross profit recorded a rise of almost 40% over 2020 reaching US$325.2 million, while its revenue exceeded US$1.2 billion, which translates to year-on-year growth of 20.7%.
Terminal profit from subsidiaries also surged by 156.4%, completing US$88.8 million. Additionally, CSP reported an increase of 3.7 percentage points in gross profit margin, which expanded to 27% year-on-year.
In 2021, the company kicked off the 14th Five-Year Plan. Under its guidance, CSP intends to seize strategic development opportunities, promote its scale expansion, deepen the lean operation, and enhance the quality and efficiency of the terminal.
Looking forward to 2022, the world’s second-busiest port operator expects that the growth rate of China’s foreign trade will slow down and the demand for container transport will gradually return to normal.
CSP is also planning to steadily improve its efficiency, raise revenue per TEU of terminals in which the group has a controlling stake and increase its control over the cost per TEU, as well as to improve the investment return from terminals in which the group has a controlling stake.
Last but not least, COSCO Shipping Ports stated it will firmly follow the trend of smart, green and low-carbon, consolidate and intensify technological innovation, and promote green shore power system for domestic terminals.
