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Public company info - COSCO SHIPPING Holdings Co. Ltd.- H Shares , 01919.HK

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COSCO SHIPPING Holdings Co. Ltd.- H Shares, 01919.HK - Company Profile
Chairman -
Share Issued (share) 2,581,000,000
Par Currency Renminbi
Par Value 1.0
Industry Marine & Harbour Services
Corporate Profile Business Summary: The Group is engaged in providing container shipping, dry bulk shipping, managing and operating container terminals and container leasing businesses. Performance for the year: In 2016, the Group achieved operating revenue o f RMB 69,833,164,000 from continuing operations, representing a year-on-year increase of RMB14,684,867,000 or 26.63%. Loss attributable to equity holders of the Company for 2016 was RMB9,906,003,000, whilst profit attributable to equity holders of the Company in 2015 was RMB469,302,000. Business Review: Container shipping business In 2016, revenues from container shipping and r e l a t ed bus ine s s amounted to RMB66,569,030,000, representing an increase of RMB14,517,844,000 or 27.89%. Since the restructuring in March 2016, the scale of the self-operating container fleets of COSCO SHIPPING Container Lines Limited (formerly known as COSCO Container Lines Co. , Ltd. ) ( “COSCO SHIPPING Lines”) expanded substantially. As at 31 December 2016, the self-operating container fleets consisted of 312 vessels, with a shipping capacity of 1,648,800 TEUs. In 2016, container shipping volume amounted to 16,902,800 TEUs, representing a year-on-year increase of 54.36%. In 2016, the average income per TEU from international routes of COSCO SHIPPING Lines amounted to RMB4,141.02 per TEU, representing a year-on-year decrease of 11.93%; the average income per TEU from domestic trade routes amounted to RMB1,581.15 per TEU, representing a year-on-year increase of 2.93%. In 2016, the China Containerized Freight Composite Index was 710.71 points, representing a year-on-year decrease of 18.54%. In 2016, the decrease in the average income per TEU from international routes of COSCO SHIPPING Lines was lower than the decrease in the China Containerized Freight Composite Index. Terminal business In 2016, revenues generated from the terminal and related business amounted to RMB3,762,678,000, representing a year-on-year increase of RMB267,322,000 or 7.65%, among which the terminal in Greece realized revenue of RMB1,175,156,000, representing an increase of 18.69% and the terminal in Nansha realized revenue of RMB1,011,961,000, representing an increase of 11.77%. In 2016, total throughput of containers of controlled and non-controlling terminals of COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”) amounted to 95,071,900 TEUs , r epr e s ent ing a y e a r -on-year increase of 4,585,900 TEU or 5.07%, among which the container throughput of controlled terminals of COSCO SHIPPING Ports amounted to 15,735,200 TEUs, representing an increase of 578,500 TEUs or 3.82%; the container throughput of non-controlling terminals amounted to 79,336,700 TEUs, representing an increase of 4,007,400 TEUs or 5.32%. Prospects: (I) Competition in the industry and development trend Container shipping market Competition landscape Since the f inancial cr i s i s , the container shipping market experienced unprecedented downturn with fluctuation. With the in-depth adjustment in the indust ry as wel l as the basically settled reorganization pattern in the alliance, corresponding changes will occur in the competition landscape of the container shipping market in the future. On one hand, the traditional eastward and westward routes will gradually transit to a new alliance competition landscape with 2M, OCEAN and THE as the three major alliances. On the other hand, in the market of other routes, certain liner companies will enhance their competitiveness and increase their market shares with featured customized services and advantages in regional distribution. Market outlook Ac c o rdi n g t o e s t ima t i o n by Alph a l i n e r , concentrated delivery of shipping capacity will occur in the container shipping market in 2017. However, demolition is expected to be high and the net growth in shipping capacity is expected to be 2.9%. In 2017, the cargo volume in the market is expected to increase by 2.7%, which is slightly better than the increase of 1.8% in 2016. However, the increase in demand will be subject to more uncertainties. With the in-depth adjustment in the industry, the overall operation in the industry will be focused on enhancing customer service quality and improving service products to make competition more reasonable. Development trend Affected by the financial crisis and loss-making situation in the industry and with the decrease in new vessel orders and gradual slowdown in the growth of shipping capacity, the gap between supply and demand will be gradually narrowed. Under the change in global economic and trading environment, emerging market and regional market will play a leading role in the next phase of industry growth. Meanwhile, with the continuous deepening of industry integration as well as the in-depth development of alliance cooperation, the operation strategy of carriers will gradually develop from the sole provision of shipping services to a more diversified portfolio of comprehensive supply chain transportation services. Terminal market Competition landscape Af fected by the sluggish demand in por t throughput, alliance of liner companies and competitive strategy, the competition in port industry is intensifying. Market outlook Prudently speaking, the container terminal market shows an optimistic prospect. According to estimate by Drewry, affected by the lack of growth in the global economy, continuous slowdown in the economic growth of emerging economies and the stagnant shipping market, the global container throughput of ports is expected to have a growth of 2.1% in 2017, higher than the 1.3% in 2016. In particular, Middle East and South Asia will remain to be the fastest growing regions in terms of throughput; Latin America is expected to pick up and revert to positive growth at a rate of 2.7%, ranking second in terms of growth rate; and North America, Asia and Australia may see moderate acceleration in growth rate. Based on the opinion of reputable agencies, the container throughput of ports in China is expected to grow at a pace of 2% to 5% in 2017, with 3% as the most probable rate. Development trend The terminal network in Greater China area of the terminal business of COSCO SHIPPING Ports will be further strengthened. After the restructuring, COSCO SHIPPING Ports’ coverage of domestic ports has expanded to the Southwest coastal region. As such, the terminal network has covered the top five coastal port clusters in China. Faced with the new golden opportunity of development, COSCO SHIPPING Ports will focus resources on the development of its terminal business, continuously improve its competitive strength, support the national strategy of “One Belt, One Road”, seize the opportunity of future development of hub ports and expand the global network of container terminals, so as to facilitate the sustainable development and growth of terminal business and create long-term value. (II) Development strategy With focus on the strategic target of becoming a worldwide first-tier supplier of container transportation and terminal investment and operation services, the Group will facilitate the strategic and business collaboration between the two major sectors in full force. The Company will seize the historic opportunity of the “One Belt, One Road” national strategic plan by putting its attention on global market, continuously optimize the allocation of container shipping and terminal resources through the transition from “product thinking” to “user thinking”, create the differentiation advantage and provide customers with globalized comprehensive services covering the whole container shipping value chain. The Company will also strive to maximize the corporate benefits, corporate value and return for shareholders through continuous consolidation and development of container transportation, terminal and relevant business and improvement of container shipping value chain. The comprehensive competitiveness of shipping and port services will be enhanced continuously through collaboration and refined management, and will finally achieve a healthy, stable and sustained development of our main business. (III) Operation plan Container shipping business In 2017, the Group’s container shipping business will adhere to the four core strategies, continue to seize the opportunities of “One Belt, One Road” national strategy and the “Go Global” strategy for Chinese enterprises, put more efforts in enhancement of quality and efficiency and continuously improve the ability in revenue management. The Company will also actively promote the philosophy of reasonable development in the industry and safeguard the healthy and stable operation of the market in a proactive manner. The Company will establish a globalized network distribution and alliance operation system matching the size of shipping capacity, make use of the advantage of “OCEAN Alliance” in the eastward and westward route services and consolidate the customer base and cargo source foundation. With the continuous implementation of the “One Belt, One Road” and “Go Global” national strategies, the Company will continue to put more efforts in the development of the markets along the “Belt and Road” and emerging markets. Meanwhile, in response to the change in international trading environment, the Company will continue to carry out intensive development in third-country market and region market. Adhering to the customer oriented philosophy, the Company will continuously improve its marketing and service capability. The Company will strengthen the construction of marketing team, integrate quality resources and through the establishment of new customer development team, impor t market ing team, cus tomer relationship maintenance team and professional teams for different industries in order to implement targeted marketing activities, provide services with higher quality to the customers, facilitate the balance of cargo source and achieve increase in cargo volume. The Company will also improve the customer service system, provide customized services to the customers with global resources and comprehensively enhance the value creation ability. The Company will continuously facilitate cost reduction and efficiency enhancement, continue to explore the potential for collaboration and strengthen the cost control ability. With the commencement of operation of the “OCEAN Alliance”, the COSCO SHIPPING Lines shipping route network distribution will be further optimized, together with continuously increased efforts in optimization of container management as well as the gradual emergence of benefits from supplier procurement optimization, the synergetic effect is expected to be further released. The Company will put more efforts in non-shipping services to improve its ability in providing comprehensive transportation solutions to the customers. Through the seamless integration with tow trucks and railway, the Company will facilitate the development of domestic trading “door-to-door” business model and further diversify and improve the service model. The Company will also design the sea-rail intermodal transportation products with more features, emphasize on strengthening the position of Piraeus Port as a transportation hub and accelerate the development of China-European Sea-rail Express business. The Company will also increase its efforts in construction of ancillary facilities in important logistic nodes in the supply chain, and gradually achieve the transition from a shipping carrier to a provider of comprehensive container logistics solutions. The Company will continuously improve its ability in service innovation, and expand the innovative advantages of e-commerce platform in internet digitalization sector. The Company will also consolidate the foundation of services to direct customers by providing more friendly and convenient services to the customers. Moreover, the Company will accelerate the development of domestic trading courier services, develop an online container consolidation platform for domestic trading e-commerce and design unique container consolidation products. The Company will further promote the digitalization of cargo space booking and documenting process to accelerate the centralization of cargo booking, documentation and service. Terminal business The Group’s terminal business will focus on the established development strategy and planning, accelerate the construction of key terminal projects, enhance the profitability of the controlled terminals and effectively improve the enterprise management and production operation to maintain profit growth and long-term sustainable development. First, to speed up the optimization of global terminal resources and network layout, providing more comprehensive services to vessel companies and shipping alliance. Second, with the principle of sustainable development, to further enhance the operating capacity and the level of modernization of terminals, shaping the core competitiveness of the major business, to provide customers with higher quality and more efficient services. Third, to continue to strengthen and enhance the internal management and constantly optimize the supplier management, information technology, risk control system establishment and human resources establishment, to promote the long-term, healthy and sustainable development for the business.

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