China-based Cosco Shipping anticipates its earnings before interest and taxes (EBIT) to almost double in the first half of 2022, benefitting from increased freight rates.

In its half-year results projection, the firm estimated its EBIT to be around $14.11bn (RMB95.245bn), a surge of 92.08%, or around $6.76bn (RMB45.658bn), compared to the previous year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Net profit attributable to equity holders is projected to jump 74.45%, or around $4.09bn (RMB27.618bn), to nearly $9.59bn (RMB64.716bn).

The firm’s net profit after nonrecurring gain and loss attributable to equity holders is anticipated to be around $9.55bn (RMB64.436bn) in the first half of 2022, up around $4.06bn (RMB27.416bn), or 74.06%, from a year ago.

The supply and demand for international container transportation services were comparatively stiff in the first half of the year, while the export freight rates of main routes stood high, stated the Chinese firm.

See Also:

The average value of the China Container Freight Index (CCFI) was 3,286.03 points during the reporting period, a 59% increase from a year earlier.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

As a result of the Covid-19 pandemic, the global supply chain was slow during the reporting period, the company said.

Cosco Shipping stated that it offered alternative solutions, including ‘water-to-water’ transit and ‘water-rail’ intermodal transport to meet market demand for containers.

Furthermore, the firm deployed technological innovation and digitalisation in the supply chain system to maintain the stability of its global supply chains.