Beijing - Cosco’s box shipping division recorded surging revenues and profits last year, on the back of strong volume gains.
Recording a year-on-year 10.12% uptick in volumes, to 25.9m teu, Cosco Shipping outpaced the average market growth rate of 6%, and reported a 34.4% jump in earnings, to $31.1bn.
The Chinese carrier said: “In 2024, the container shipping market saw moderate growth in cargo volumes driven by a gradual recovery of global trade. Meanwhile, the ongoing turmoil in the Red Sea, resulted in an overall shortage of effective capacity . . .
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