COSCO Shipping Ports announced that its terminal container throughput expanded by 8.4 percent year-on-year to 42.27 million TEU during the third quarter of 2026, according to Baird Maritime. The company's quarterly revenue rose 13 percent to $484.3 million, while gross profit increased 19.3 percent to $128.1 million. Operational adjustments were implemented in response to geopolitical developments and shipping-alliance adjustments impacting Gulf and Red Sea corridors, with plans to enhance feeder networks linking Asia and the Middle East.
In the energy shipping sector, China Merchants Energy Shipping and COSCO Shipping Energy disclosed third-quarter results showing steep earnings growth, according to BigGo Finance. China Merchants Energy Shipping reported net profit attributable to shareholders of CNY 11.983 billion (approximately $1.8 billion), an increase of 263.15 percent year-on-year.
COSCO Shipping Energy reported a net profit of CNY 7.389 billion (approximately $1.1 billion), up 171.9 percent. The financial surge was linked to heightened international crude tanker rates on lanes connecting the Gulf and China, where rates on the Middle East export TD34 route briefly touched WS800 points and rose from $200,000 to over $800,000 per day in September amid geopolitical risk premiums.
Sources
- Baird Maritime · 2026-10-30
