Cosco Pacific eyes further overseas terminal investment

Cosco Pacific eyes further overseas terminal investment

Hong Kong: Hong Kong-listed Cosco Pacific is looking for more opportunities for terminal investment, and the company has allocated $1.1bn capital expenditure for the year 2015, Qiu Jinguang, managing director of Cosco Pacific, said in the company’s annual result briefing.

Qiu said the group expects throughput at its terminals to maintain on a stable organic growth path, and the group will seize the opportunities from the central government’s new “One Belt, One Road” Silk Road initiatives to invest in potential new container hubs with a view to expanding its global network.

Cosco Pacific reported a net profit of $292.8m in the year 2014, up 2.3% on 2013 results.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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