Shanghai-listed COSCO Shipping’s June shipping volume has fallen from a year ago, although total volumes for the year to June were still up.
June saw 1.2 million tonnes shipped, a drop of 8.7% (0.11 million tonnes) on a year ago. The six-month comparison shows 8.1 million tonnes shipped this year, an increase of 19.8% (1.3 million tonnes) on the same period last year.
COSCO Shipping’s turnover in June fell by 7.6% from a year earlier, but again, from January to June overall, was up by 25.1%.
In further 2014-2015 comparisons, the company‘s loading rate in June dropped 3.3% to 58.3%, while its fuel consumption was 1.5% less.
Its general cargo fleet shipped 0.48 million tonnes in June, a surge of 97.3% on a year ago, and a total of 3.4 million tonnes in the January-June period,up 179.8%.
However, its MPV fleet only shipped 0.19 million tonnes last month, a slump of 62.9%, while total shipments in the January-June period stood at 1.9 million tonnes, down 27.5%.
At the end of June the company received CNY4.0 billion (USD645.1 million) in government subsidies for scrapping old tonnage and fleet renewal, a filing to the Shanghai Stock Exchange reported.
Those subsidies will have some positive impact on the company’s financial result for 2015, it noted.