Cosco Asia-Europe trade up 25% in third quarter

Beijing: Cosco reports that its container line revenues for the third quarter were RMB9.2bn, up nearly 8% compared to the corresponding 2005 period, on traffic 16% ahead at 1.38m teu. Greatest trade growth came on Asia-Europe where liftings were 25.6% ahead of the previous year at 336,048teu. This picture tallies with the one in OOCL's third quarter results released last week, which showed Asia-Europe trade up 31.6% compared to 11.8% networkwide. However, OOCL pointed out that its revenue growth was higher on TransAtlantic routes ( 18.7%) than on Asia-Europe (12.5%).  [25/10/06]