Ports

Cosco Profit Surges 81% on Trans-Pacific Freight Gains

China-based Cosco Shipping Holdings reported third-quarter profit attributable to shareholders of approximately $2.58 billion, representing an 80.73% increase from the year-earlier period. Revenue climbed to approximately $11.34 billion, while earnings before interest and taxes rose 69%. The nine-month profit total reached approximately $4 billion. Trans-Pacific services drove the strongest growth, with revenue increasing 61.20% despite cargo-volume gains of just 12%. The carrier transported 7.21 million twenty-foot equivalent units across its container operations, a 4% increase. Operating cash flow reached $7.18 billion in the first nine months, up 19%. Cosco adjusted capacity on U.S. Southwest and Asia-Europe routes while expanding Latin America, Africa and Southeast Asia services. Terminal business revenue grew 7%. The company projects resilient global container-shipping demand supported by Global South trade flows, though it cautioned that geopolitical conflicts, port congestion and supply-chain disruptions pose ongoing challenges.