China’s container giant predicts a robust profit rise
Feb, 10, 2022 Posted by Gabriel MalheirosWeek 202206
COSCO Shipping predicts rising profits in 2021 due to tight container supply amid the pandemic.
According to a report filed with the Shanghai stock exchange, net profit attributable to shareholders is likely to increase 799.3% year-on-year to 89.28 billion yuan (about US$14 billion) during the period.
Global supply chains have faced challenges and impacts from port congestion, container shortages, and ground transportation delays.
Looking ahead into 2022, the company said that challenges and opportunities lie ahead, but there will be no radical changes in the market bases taking into account demand and supply.
The company will continue to deepen the integration of the container shipping business and the terminal business segment, as well as strengthen business model innovations through digital technology and establish a new innovative and green shipping ecology.
“The company that it will achieve good results in 2022,” the report says.
Source: Monitor Mercantil
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