COSCO SHIP PORT earned 1% more last year, expects the situation in the Middle East to present both risks and opportunities for expanding routes around the Strait of Hormuz
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COSCO SHIP PORT (1199) reported a 1.1% increase in net profit to USD 312 million last year, with revenue rising 11% to USD 1.67 billion. Chairman Zhu Tao stated that the situation in the Middle East presents both "risks and opportunities," and emphasized the importance of ensuring smooth cargo flow by expanding the port in Oman Bay. The global port industry is expected to grow at a rate between 1.8% and 1.9%, with the Latin America region becoming a new growth point. The throughput of mainland terminals increased by 4.6% to 11 million standard containers, accounting for 75% of the total throughput
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