On 1 June 2021, China Merchants Port Holdings Company Limited, held an Annual General Meeting in Hong Kong. The AGM was hosted by Mr. Zheng Shaoping, the Executive Director and Deputy General Manager of CMPort. Mr. Vincent Lu, Deputy General Manager of CMPort, and Mr. Sun Ligan, General Manager of Finance Department as representatives of the management team of CMPort attended the meeting.
Majority of the votes were casted in favor of the five resolutions proposed by the Board and hence, all of the resolutions were duly passed. The approved resolutions include: 1) to declare a final dividend of 51 HK cents per share for the year ended 31 December 2020 in scrip form with cash option, 2) to receive and consider the Audited Consolidated Financial Statements for the year ended 31 December 2020 together with the Report of the Directors and the Independent Auditor's Report, and 3) to re-elect Mr. Liu Weiwu, Mr. Xiong Xianliang, Mr. Ge Lefu, Mr. Wang Zhixian, Mr. Zheng Shaoping as the Directors of the Group, etc.
The management team of CMPort answered questions from the press after the AGM. Mr.Zheng Shaoping said, “For the first four months of the year, CMPort achieved a double-digit growth in container throughput volume, mainly led by the low base amid the Covid-19 pandemic in the last year, the quick recovery of Chinese ports business and contributions of new overseas projects. With the further recovery of the pandemic, relief of the port congestion and improvements of the operation efficiency, we expect a middle to high single-digit growth on the annual performance of CMPort's ports. Moreover, there will also be some room for improvements on the global port tariff.”
The press are concerned about the future investment plan of CMPort, Mr. Vincent Lu said: “As an overseas investment platform, CMPort has been focusing on the terminal projects in Southeast Asia especially after the signing of the Regional Comprehensive Economic Partnership (RCEP), among which several projects in Asia are under negotiation. After the relief of pandemic when business activities gradually resume normal, the progress of new projects investment will accelerate. ”
Moreover, Mr. Sun Ligan responded to question on future investment funding: “The Group is well-prepared on funding needs for new investment projects through bank loan and bond issue.”
CMPort recorded a significant growth in both container throughput and bulk cargo volume in 2021. For the first four months, CMPort handled a total container throughput of 43.65 million TEUs, up by 25.5%. Chinese ports delivered 18.7% year-on-year growth, mainly led by Ports in West Shenzhen, Shanghai, Shantou and Tianjin. Overseas ports saw a significant year-on-year increase of 50.5%, driven by contribution from Terminal Link SAS's new terminals. The Group's bulk cargo increased by 40.5% to 1,800 million tonnes, which was mainly boosted by the merger activities of Liaoning Port.
Multiple projects of CMPort have achieved a historic breakthrough in 2021. Dalian Port completed the merger with Yingkou Port and was renamed as Liaoning Port in January, which contributed to the increase in container throughput and bulk cargo of the Group. TCP Participações S.A. in Brazil saw its highest monthly container throughput volume of 95,633 TEUs in March. Hambantota International Port Group (Private) Limited hit a record high on its RORO volume of 63,105 units in April.
2021 is a crucial year for CMPort to move towards the goal of being a “World's leading comprehensive port service provider”. Therefore, the Group will continue to follow the strategic plans and actively grasp the development opportunities under the new situation at home and abroad, provide high-quality customer services, and strive to gradually realize the strategic transformation to intelligence and digitization, so as to achieve the high-quality development of the Group.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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