On October 7, China COSCO Shipping Holdings Co., Ltd. (COSCO SHIPPING Holdings) released the “Performance Forecast for the First Three Quarters of 2024”.
The announcement disclosed that from January 1, 2024 to September 30, 2024, COSCO SHIPPING Holdings achieved a net profit of approximately RMB 43.34 billion (US$6.14 billion) in the first three quarters of 2024, an increase of approximately 66.67% compared with the same period last year.
Among them, COSCO SHIPPING Holdings expects to achieve a net profit attributable to shareholders of listed companies of approximately RMB 38.121 billion in the first three quarters of 2024, a year-on-year increase of approximately 72.72%; the net profit attributable to shareholders of listed companies in the third quarter is expected to be approximately RMB 21.251 billion, a year-on-year increase of approximately 285.66%.
Regarding the main reason for the expected increase in performance in this period, COSCO Shipping Holdings stated that in the first three quarters of 2024, cargo volume in major markets increased moderately, capacity supply continued to be affected by the situation in the Red Sea, and the global supply chain was generally tense; in the third quarter of 2024, as the European and American main routes entered the peak season, the company’s container shipping business achieved both volume and price increases.
Faced with the complex and ever-changing global economic and trade situation, COSCO SHIPPING Holdings insists on coping with the uncertainty of the external environment with the certainty of its own development.
The company has continued to make progress in the new tracks of digital intelligence and green and low-carbon development, continuously enhanced the resilience of the global supply chain, effectively improved the company’s core competitiveness, and achieved good operating results.