Revenue rose 8.6% in 2013 to $798.6m driven mainly by the terminals business which contributed $455.1m and the container leasing, management and sale businesses which added $347.7m to total revenue, the group said in a stock market announcement.
However, although throughput at the group's terminals rose 10.1% to 61.3m teu, profits from the terminals business saw a slight decline to $186.8m from $189m previously.
Cosco Pacific's Piraeus Terminal and Guangzhou South China Oceangate Terminal put in the best performances, recording a 16% and 34% rise in profit to $23.1m and $8.3m respectively.
However Xiamen Ocean Gate Terminal, which started operations in May 2012, is still in a ramp-up period and had a full-year loss in 2013. Together with its acquisition of Xiamen Haitou Tongda Terminal in March last year, total losses rose to $14.1m from $11m in 2012.
Among its non-majority owned terminals, tax breaks at Qingdao Qianwan Container Terminal and Shanghai Pudong International Container Terminals expired at the end of 2012, resulting in a decrease in profit at these terminals, while in Hong Kong its Cosco-HIT Terminals was hit by rising borrowing costs and a well-publicised strike.
Meanwhile, the container leasing, management and sale businesses also saw profit drop to $125.3m despite an increase in fleet size to 1.89m teu from 1.86m teu the year before.
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