CMPort predicts profit increase of 170%

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CMPort predicts profit increase of 170%

China Merchants Port (CMPort) will post a 170% year-on-year (YoY) increase in profits in 1H 2021 due to greater container throughput across its business caused by the COVID-19 pandemic, according to its interim financial results.

In a statement, CMPort said it handled 66.57 million TEU in 1H, an YoY increase of 21.3%; ports and terminals in Mainland China, Hong Kong and Taiwan increased by 17% YoY and 36.4% in overseas hubs.

During the period, the CMPort’s container throughput in West Shenzhen Homebase Port (“WSZ”) increased significantly, and TCP Participações S.A. in Brazil has reached record high throughput volume on March and May.

Furthermore, Hambantota International Port Group (Private) Limited has progressed to build a large-scale home appliance and electronic industrial park as well as an energy hub of Sri Lanka, whereas Djibouti International Free Trade Zone has contracted and registered 162 enterprises to the park.

In addition, Mawan Smart Port has been officially put into operation in June, which not only further enhances the competitiveness of WSZ, but also helps to stabilize the logistics supply chain in South China.

With the steady progress of vaccination, the global economy in 2021 is sustainably recovering from the post-pandemic era, the company claimed.

CMPort said it will “continue to actively grasp the continuous uptrend of the shipping industry”, and make full use of market situation, as well as the competitive advantage of its “comprehensive global layout” to provide strong transportation support for global trade.

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