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SIPG sees reduced earnings in Q1

Shanghai International Port (Group) Co (SIPG), the operator of Shanghai port, has seen reduced earnings in the first quarter ended 31 March 2016 over the year-ago period.

Lee Hong Liang, Asia Correspondent

May 3, 2016

1 Min Read

Kalyakan - stock.adobe.com

The Chinese port operator recorded a first quarter profit of RMB1.22bn ($188.51m), a decrease of 18.9% from RMB1.5bn in the same period of last year.

The quarterly revenue for SIPG also dropped by 4.3% year-on-year to RMB7.11bn on lower container throughput.

From January to March this year, Shanghai port handed a total throughput of 8.54m teu, down 1.5% from 8.67m teu in the previous corresponding period.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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