COSCO SHIPPING Ports Announces 2025 Annual Results

COSCO SHIPPING Ports Limited ("COSCO SHIPPING Ports" or "CSP" or the "Company", SEHK: 1199), the world's leading ports logistics service provider, today announced the annual results of the Company and its subsidiaries (the "Group") ended 31 December 2025.2025 FY Results HighlightsTotal throughput increased by 6.2% YoY to 152,994,965 TEU Total equity throughput increased by 3.4% YoY to 46,850,076 TEU Total throughput from terminals in which the Group has controlling stakes increased by 1.8% YoY to 33,246,933 TEU Total throughput from the Group's non-controlling terminals increased by 7.5% YoY to 119,748,032 TEU Revenue of the Company increased by 11.0% YoY to US$1,669,017,000 Profit attributable to equity holders of the Company increased by 1.1% YoY to US$312,141,000 Declared a second interim dividend of US1.328 cents per shareFINANCIAL REVIEWIn 2025, the port and shipping market faced pressure amid slowing global trade growth, tariff adjustments, trade protectionism, and geopolitical uncertainties. Leveraging lean operations management and resource process optimization, COSCO SHIPPING Ports maintained its operational resilience and core competitiveness. Annual revenue of the Company amounted to US$1,669.0 million, increased by 11.0% YoY, cost of sales was US$1,253.5 million, increased by 15.4% YoY. Gross profit was US$415.5 million, decreased by 0.3% YoY. Share of profits from joint ventures and associates amounted to US$343.4 million, increased by 7.3% YoY. During the year, profit attributable to equity holders of the Company was US$312.1 million, increased by 1.1% YoY.OPERATIONAL REVIEWMarket ReviewIn 2025, despite a complex and severe external environment, China's economy advanced under pressure, achieving relatively rapid growth in its merchandise trade and demonstrating strong resilience and vitality. According to statistics from the General Administration of Customs of China, in 2025, the total of China's import and export reached RMB45.47 trillion in 2025, marking a year-on-year increase of 3.8%, maintaining its position as the world's largest merchandise trader. Specifically, exports amounted to RMB26.99 trillion, posting a YoY increase of 6.1%, while the amount of imports grew by 0.5% YoY to RMB18.48 trillion. Notably, robust growth was recorded in trade with emerging markets such as ASEAN, Latin America, and Africa, with respective year-on-year increases of 8.0%, 6.5%, and 18.4%.Overall PerformanceIn 2025, the Group's total throughput increased by 6.2% YoY to 152,994,965 TEU (2024: 144,032,722 TEU). Specifically, total throughput from terminals in which the Group has controlling stake increased by 1.8% YoY to 33,246,933 TEU (2024: 32,655,388 TEU), accounting for 21.7% of the Group's total, and the total throughput from non-controlling terminals increased by 7.5% YoY to 119,748,032 TEU (2024: 111,377,334 TEU), accounting for 78.3% of the Group's total.During the year, the Group's total equity throughput increased by 3.4% YoY to 46,850,076 TEU (2024: 45,318,318 TEU). The equity throughput from terminals in which the Group has controlling stake decreased by 2.0% YoY to 19,566,743 TEU (2024: 19,958,253 TEU), accounting for 41.8% of the Group's total, and the equity throughput from non-controlling terminals increased by 7.6% YoY to 27,283,333 TEU (2024: 25,360,065 TEU), accounting for 58.2% of the Group's total.ChinaTotal throughput of the terminals in China increased by 4.6% YoY to 114,836,474 TEU in 2025 (2024: 109,808,199 TEU) and accounted for 75.1% of the Group's total throughput. Total equity throughput of terminals in China increased by 1.6% YoY to 32,786,033 TEU (2024: 32,279,961 TEU), accounting for 70.0% of the Group's total equity throughput.Bohai RimTotal throughput of the Bohai Rim region increased by 5.1% YoY to 52,060,240 TEU in 2025 (2024: 49,550,213 TEU) and accounted for 34.0% of the Group's total. Total equity throughput of the Bohai Rim region decreased by 0.2% YoY to 13,261,079 TEU (2024: 13,282,472 TEU) and accounted for 28.3% of the Group's total equity throughput. The total throughput of Dalian Container Terminal Co., Ltd. maintains steady growth, with total throughput increased by 2.2% YoY to 5,393,205 TEU (2024: 5,277,625 TEU).Yangtze River DeltaTotal throughput of the Yangtze River Delta region increased by 2.2% YoY to 16,848,434 TEU in 2025 (2024: 16,484,202 TEU) and accounted for 11.0% of the Group's total. Total equity throughput of the Yangtze River Delta region increased by 2.1% YoY to 4,868,227 TEU (2024: 4,766,173 TEU) and accounted for 10.4% of the Group's total equity throughput. Wuhan CSP Terminal Co., Ltd. has advanced simultaneously on land and sea, deepening collaboration with shipping companies, enhancing the density of its Yangtze River shipping routes, expanding intermodal water-rail channels, promoting the development of an international train assembly and distribution centre, and increasing rail freight volume, achieving a 31.8% YoY increase in total throughput to 323,624 TEU (2024: 245,627 TEU).Southeast Coast and OthersTotal throughput in the Southeast Coast and Others region decreased by 6.3% YoY to 5,621,527 TEU in 2025 (2024: 6,002,237 TEU) and accounted for 3.7% of the Group's total throughput. Total equity throughput of Southeast Coast and Others region decreased by 0.6% YoY to 4,285,921 TEU (2024: 4,311,464 TEU) and accounted for 9.2% of the Group's total equity throughput. Xiamen Ocean Gate Container Terminal Co., Ltd. strengthened its commercial marketing efforts and facilitated the addition of new shipping routes, leading a 4.1% YoY increase in total throughput to 2,679,812 TEU (2024: 2,574,593 TEU).Pearl River DeltaTotal throughput of the Pearl River Delta region increased by 5.2% YoY to 30,243,273 TEU in 2025 (2024: 28,756,347 TEU) and accounted for 19.8% of the Group's total throughput. Total equity throughput of the Pearl River Delta region increased by 3.9% YoY to 8,256,568 TEU (2024: 7,945,689 TEU) and accounted for 17.6% of the Group's total equity throughput. Guangzhou South China Oceangate Container Terminal Company Limited actively responded to the restructuring of shipping alliances and route adjustments, seizing growth opportunities in emerging Southeast Asian markets. Driven a significant YoY increase in container volume on Asian regional routes, driving a 7.9% YoY increase in total throughput to 6,025,563 TEU (2024: 5,582,825 TEU).Southwest CoastTotal throughput of the Southwest Coast region increased by 11.6% YoY to 10,063,000 TEU in 2025 (2024: 9,015,200 TEU), accounting for 6.6% of the Group's total throughput. Total equity throughput of the Southwest Coast region increased by 7.1% YoY to 2,114,238 TEU (2024: 1,974,163 TEU) and accounted for 4.5% of the Group's total equity throughput. The increase in total throughput and equity throughput can be attributed, on one hand, to the ongoing release of trade benefits from the Regional Comprehensive Economic Partnership (RCEP). On the other hand, Beibu Gulf Port Co., Ltd. has accelerated the development of the Beibu Gulf International Gateway Port and the international hub seaport. It has continuously optimized its container shipping network, intensified cargo sourcing efforts, and driven year-on-year growth in container volume.OverseasTotal throughput in overseas terminals increased by 11.5% YoY to 38,158,491 TEU in 2025 (2024: 34,224,523 TEU) and accounted for 24.9% of the Group's total. Total equity throughput of overseas terminals increased by 7.9% YoY to 14,064,043 TEU (2024: 13,038,357 TEU) and accounted for 30.0% of the Group's total equity throughput. The total throughput of Piraeus Container Terminal Single Member S.A. decreased by 6.0% YoY to 3,976,713 TEU (2024: 4,228,474 TEU), primarily due to a slowdown in market demand within the Mediterranean region. CSP Zeebrugge Terminal NV strengthened its commercial marketing efforts and added multiple mainline and feeder services, driving a 33.1% YoY increase in total throughput to 894,227 TEU (2024: 671,989 TEU).PROSPECTSThe global geopolitical landscape in 2026 remains complex and challenging, with persistent uncertainties in trade patterns. The International Monetary Fund (IMF) forecasts in its latest World Economic Outlook report that the global economy is projected to grow by 3.3% in 2026, maintaining a steady growth trajectory. According to London-based shipping consultancy Drewry, global container throughput growth is projected to slow to 1.8% in 2026. Against this backdrop, the Company will adhere to a high-quality development philosophy, closely aligning with the goal of becoming a world-class port logistics service provider. The Company will focus on our core business, improve operational efficiency, and strive to enhance global competitiveness and sustainable development capabilities.First, the Company will prioritize strategic guidance to optimize our global port layout. Guided by the principle of "expanding globally while deepening efficiency domestically", the Company will accelerate the construction of a global terminal network that synergistically integrates developed and emerging markets, greenfield and brownfield terminals, and hub and gateway ports. The Company will strengthen corridor development, elevate service levels at key hub ports such as COSCO SHIPPING Ports Chancay PERU S.A., Piraeus Container Terminal Single Member S.A., and CSP Abu Dhabi Terminal L.L.C., and systematically advance hardware and software investments aligned with business growth and smart, low-carbon initiatives. Concurrently, the Company will increase the size of feeder networks, enhance route aggregation effects, and achieve a strategic framework where all terminals connect to form a network and develop synergistically.Second, deepen operational synergy to comprehensively enhance quality and efficiency. The Company will adhere to lean operations while strengthening marketing and internal coordination, as well as closely monitor shifts in the international shipping landscape to increase coverage of the parent company's dual-brand routes at subsidiary terminals. The Company will also deepen business integration with the fleet of China COSCO SHIPPING Corporation Limited (the Company's ultimate controlling shareholder) to accelerate diversified business development. The Company will expedite the construction of a digital marketing and business platform to transition from experience-driven to data-driven operations. Key initiatives include advancing the intelligent route planning project to enhance operational efficiency and strengthening standardized management of equipment throughout its lifecycle to sustain operational capacity.Third, strengthen network aggregation and enhance comprehensive service capabilities. The Company will focus on upgrading from "single-point development" to "network synergy." Continuously reinforce trunk and feeder networks and corridor development at key hubs to enhance transshipment and network capabilities. Vigorously develop integrated "port + logistics" services and promote standardized supply chain products. Leveraging key logistics nodes, provide customized end-to-end solutions for emerging cargo types such as photovoltaic and energy storage. By coordinating global network resources, the Company will establish a tiered, synergistic operational system to comprehensively enhance supply chain resilience and service value-added.Fourth, accelerate innovation-driven development to cultivate and expand new productive forces. The Company will actively embrace digital and green industrial trends, integrating technological innovation with core business operations. The Company will deepen the integration of innovative applications like artificial intelligence with terminal operations, expanding the scaled application of digital twins and AI technologies in intelligent scheduling, equipment maintenance, and safety control. In green and low-carbon initiatives, the Company will intensify the promotion and application of new energy equipment, advance port microgrid construction and refined energy management, continuously reduce energy consumption per unit of output, and explore new pathways for green development.In 2026, the Company's management will proactively address external challenges and seize development opportunities with a strong sense of mission and responsibility. Regarding the situation in the Middle East which has drawn significant attention, the Company will continue to closely monitor the situation and carefully assess any potential impact, and take any necessary measures to ensure operations continue uninterrupted. By implementing the aforementioned measures, we will substantially enhance the Company's core competitiveness and core functions, striving to deliver sustained and stable value returns for all shareholders.

COSCO SHIPPING Ports Announces 2025 Annual Results

Інші новини компанії