Containers double for Cosco
Published: Oct 28, 2010
Asia - Cosco Pacific has registered more than a double in quarterly profit due to a revival in container world trade.
The company's net income reached US$100 million in the third quarter from US$40 million in 2009, with sales rising 29% to US$107.5 million.
Cosco Pacific handled 13.3 million 20-foot equivalent boxes in the third quarter, while total volumes rose 20% to 35.7 million in the first nine months of 2010.
Cosco Pacific is Asia's third-largest container operator, trailing behind Hutchison Port Holdings Ltd. and Singapore-based PSA International Pte., Bloomberg reported.
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