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China’s Rizhao Port records lower earnings

China’s Rizhao Port records lower earnings
China’s Rizhao Port Co has posted lower earnings in the January-September 2015 period due mainly to reduced cargo volumes.

Shanghai-listed Rizhao Port recorded a profit of RMB353.28m ($55.68m) in the first nine months, a decrease of 38% compared to the profit of RMB569.97m in the same period of last year.

Revenue stood at RMB3.3bn, down 14.6% year-on-year.

In the first nine months, the port of Rizhao handled 158.12m dwt of cargoes, representing a 13.3% decrease compared to the previous corresponding period in 2014.

Rizhao Port is the main operator of the northern port of Rizhao, a natural deepwater port with 46 berths in two main port areas of Lanzhao Port Area and Shijiu Port Area.

TAGS: Dry Bulk Ports