Tangshan Port Co H1 earnings climb 12.7% YoY

Tangshan Port Group Co., Ltd, a state-owned operator of Jingtang port in northern China, saw a strong rise of 12.67% year on year in net profit attributable to shareholders in the first half year, the company said in a semi-annual report late August 30. 

 

The group raked in 881 million yuan of earnings in the period, which equals to a gain of 0.1486 yuan/t per share, up by 0.1319 yuan/t from a year earlier, it said. 

 

Its bulk cargo handling came in at 105.3 million tonnes during the first six months, a decrease of 1.27% compared with a year ago. 

 

Shipments of main ores dropped 3.44% on the year to 48.35 million tonnes, while that of steel products declined 21.77% to 7.2 million tonnes. 

 

Coal delivery registered a year-on-year rise of 8.73% to 43.16 million tonnes, while shipments of other cargoes were down 14.37% to 6.55 million tonnes. 

 

Tangshan Port chalked up shipment decreases mainly to a marked decline in China's iron ore imports in the first half year due to rallying iron ore prices amid prolonged hit to supplies from Brazil and Australia. 

 

Besides, environmental crackdowns also drove shipments of ores, steel products and water granulated slag lower than the year-ago level. 

 

The company also saw year-on-year increases in thermal and coking coal shipments in H1. 

 

Source:sxcoal

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