COSCO to continue digital upgrade after 49.6% profit boom


COSCO Shipping Ports (CSP) saw its gross profits increase by 49.6% year-on-year (YoY) in H1 2021 as it continued to “grasp the opportunity” of recovering trade demand.

In a statement, the terminal operator said its business maintained its strong momentum and recorded a “robust growth” in the first six months of the year.

It said it expects growth to continue into the second half of 2021 and “outpace its peers” by improving services and customer service and communication.

“The Company will continue to optimize the global terminal network, provide support and pivot for the container fleet of the parent company in the global routes network,” it said.

Additionally, it said it will “further leverage the synergy from the parent company and the OCEAN Alliance, strengthen the ship calls from other shipping alliances, promote the introduction of new routes, and strive for more routes to call at the Company’s terminals so as to achieve the increase of the container volume.”

Furthermore, CSP will continue to improve its digital and data management capabilities after investing heavily in 5G-based smart port technology.

“The Company is actively undergoing big data preparation to satisfy necessary conditions for the digital transformation of the Company and will keep on proceeding and improving terminal automation.

“Looking forward, as a global leading ports operator, the Company will serve regional economic development by building a shipping network that can provide synergetic effects in terms of cost, service and synergy, so as to achieve global connectivity and distribution of goods, and become “The Ports for ALL”.

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