COSCO Shipping Ports records 8.4% throughput growth

COSCO Shipping Ports handled 42.27 million twenty-foot equivalent units across its international terminal network during the third quarter of 2026, an increase of 8.4% compared with the corresponding period last year. Overseas terminals recorded the strongest growth, with throughput rising 19.4%, while the group’s Chinese operations increased volumes by 4.9%.

The total of 42,266,553 TEU represents all container movements reported across the company’s terminal network, including facilities operated through different ownership and partnership arrangements. Equity throughput, which allocates terminal volumes according to COSCO Shipping Ports’ ownership interests, increased 8.1% to 12,884,563 TEU. The two measures provide different views of the business, with the first showing the operating scale of the network and the second reflecting the group’s proportionate interests in its terminals.

Higher cargo volumes were accompanied by a 13% increase in quarterly revenue to US$484.3 million. Gross profit rose more rapidly, increasing 19.3% to US$128.1 million, although profit attributable to equity holders grew only 0.1% to US$82.6 million. The difference between revenue and attributable profit growth indicates that the improvement in terminal operating activity did not produce an equivalent increase in the final profit measure.

Over the first nine months of 2026, the relationship between throughput and earnings was stronger. Total container volumes reached 122.42 million TEU, up 8.1%, while equity throughput increased 7.4% to 37.38 million TEU. Revenue for the period rose 12.6% to US$1.39 billion, and profit attributable to equity holders increased 19.7% to US$316.3 million. The nine-month results consequently show a larger improvement in attributable earnings than the third quarter alone.

Domestic terminals continued to account for most of the cargo handled, although their share of the network was reduced by faster growth overseas. Chinese operations processed 30.94 million TEU during the quarter, representing 73.2% of total throughput and an increase from 29.50 million TEU a year earlier. Their equity throughput also rose 4.9% to 8.84 million TEU, reflecting the continuing importance of the group’s established Chinese terminal portfolio.

Within China, the Bohai Rim remained the largest operating region, handling 14.12 million TEU, an increase of 4.3%. Dalian Container Terminal contributed 1.46 million TEU after growing 6.7%, with COSCO Shipping Ports linking part of the improvement to stronger exports of high-technology products associated with investment in artificial intelligence. The additional export activity supported cargo movements through Dalian even as growth across the wider domestic network remained more moderate.

Conditions differed in the Yangtze River Delta, where total terminal throughput declined 0.3% to 4.34 million TEU. Individual facilities nevertheless reported stronger activity, including CSP Wuhan Terminal, which increased volumes 17% to 87,112 TEU. The Wuhan result followed improvements to its shipping service network and rail-connected cargo sourcing, allowing the terminal to attract additional movements despite the weaker regional comparison.

Rail connections can extend a terminal’s reach beyond the immediate port area by providing scheduled transport for containers moving between inland production centres and maritime gateways. Their effectiveness depends on service frequency, available capacity and coordination with terminal handling operations. Stronger inland connections can therefore contribute to growth at an individual facility even when surrounding terminals experience different trading conditions.

Further south, the Southeast Coast and Others region recorded throughput growth of 7.6% to 1.51 million TEU. Xiamen Ocean Gate Container Terminal handled 753,836 TEU, up 7.8%, supported by additional foreign trade shipping services introduced during the year. The Pearl River Delta also increased throughput 7.6% to approximately 8.30 million TEU, including stronger activity at Guangzhou South China Oceangate Container Terminal, where volumes rose 13.6% to 1.67 million TEU.

These regional differences reflect the way container volumes respond to changes in shipping services and cargo sourcing. Terminals with additional vessel connections or improved access to inland freight can gain movements independently of wider regional trends. The same relationship was visible across COSCO Shipping Ports’ international portfolio, where network development and stronger cargo demand contributed to considerably faster growth.

Overseas terminals handled 11.32 million TEU during the quarter, compared with 9.48 million TEU a year earlier. Their share of total throughput reached 26.8%, while overseas equity throughput increased 15.6% to 4.05 million TEU. The international portfolio therefore made a larger contribution to the group’s overall growth than would be suggested by its smaller share of total container volumes.

Piraeus Container Terminal in Greece was among the facilities recording higher activity, handling 1.09 million TEU, an increase of 11.4%. The terminal serves Mediterranean shipping routes and supports the transfer of containers between services connecting different regional and international markets. Stronger demand across those connections contributed to the quarterly improvement, although the volume handled at a transhipment terminal does not necessarily correspond to goods imported into or exported from its immediate domestic market.

A similar distinction applies to Chancay in Peru, where throughput rose 24.9% to 139,669 TEU. COSCO Shipping Ports has developed three mainline services and five feeder connections at the terminal, linking international routes with regional cargo movements. Mainline services connect major trading centres, while feeder vessels transfer containers between those routes and smaller ports, allowing cargo to reach destinations that are not served directly by larger ocean-going ships.

The development of those connections influences how much cargo moves through an individual terminal. Containers may be transferred between vessels, placed into temporary storage or collected for onward transport by road and rail. Terminal throughput consequently reflects the organisation of shipping networks and transhipment activity alongside local import and export demand, helping explain why facilities serving different regions can record markedly different growth rates.

Across its wider portfolio, COSCO Shipping Ports operated and managed 395 berths at 40 ports at the end of September, including 245 container berths. The network extends across China, Europe, the Mediterranean, the Middle East, Southeast Asia, South America and Africa. Its geographic spread provides access to different trade routes, but operating performance remains dependent on the services calling at individual terminals and the capacity available to handle their cargo.

Berth capacity must be supported by quay cranes, storage areas and inland transport connections if additional vessel calls are to translate into higher throughput. Containers arriving at a terminal need to be discharged, moved through the yard and transferred to their next transport service without creating congestion elsewhere in the operation. COSCO Shipping Ports’ plans to strengthen cargo sourcing and expand mainline and feeder connections address these interdependent requirements across its terminal network.

Changes in shipping alliances and disruption to established maritime routes continue to influence where cargo is handled, prompting the group to examine alternative logistics corridors and strategically important gateways. Its latest results show particularly strong growth outside China, while the variation between regional and individual terminal performances reflects the importance of shipping connections, inland transport and local cargo demand. Future throughput will depend on how those operating conditions develop across the network.