Demand boosts port operator
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The recovery in global trade helped lift cargo turnover at port operator China Merchants Holdings (International) Co which went on to post a 12 percent climb in first-half earnings.
Its net income rose to HK$1.93 billion (US$248 million), or HK$0.79 per share, the firm said in a statement to the Hong Kong stock exchange yesterday.
Revenue gained 21 percent to HK$1.99 billion during the period.
Container volume handled by China Merchants rose 22.5 percent to 24.9 million TEUs (20-foot equivalent units) in the first six months. Bulk cargo throughput rose 25.3 percent to 135.4 million tons from January to June.
China's export volume jumped 35.2 percent in the first half to US$70.5 billion as global demand rebounded.
The Ministry of Transport said China's cargo throughput in the first half rose an annual 18.9 percent to 3.9 billion tons while container turnover gained 22.3 percent to 68.7 million TEUs.
The firm operates or has stakes in eight domestic ports and its network covers coastal regions.
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