On October 30, 2025, COSCO SHIPPING Holdings Co., Ltd. (“COSCO SHIPPING Holdings,” SSE: 601919; HKEX: 1919) released its third-quarter report for 2025. Despite a complex external environment and intensified freight rate fluctuations, the company showcased robust resilience and sustained profitability, supported by its steady strategic focus, solid operational foundation, and continuous innovation investment.
 

Solid Overall Performance

In the first three quarters of 2025, COSCO SHIPPING Holdings recorded:

In the third quarter alone, net profit attributable to shareholders reached RMB 9.533 billion, marking a 63.2% quarter-on-quarter increase, signaling a clear recovery in quarterly profitability.
 

Operating cash inflow for the first three quarters totaled RMB 39.982 billion, while the ending balance of cash and cash equivalents stood at RMB 170.560 billion. The asset-liability ratio was 43.5%, remaining within a healthy range. The stable financial structure provides a solid foundation for future investment and dividend policies.
 

The company continues to uphold a prudent dividend and shareholder-return policy. For the 2025 interim period, it distributed RMB 0.56 per share (tax inclusive), totaling RMB 8.674 billion, equivalent to approximately 50% of the net profit attributable to shareholders for the first half. Meanwhile, the company launched a second share-repurchase program, planning to buy back 50 million–100 million A-shares within three months, and to continue repurchasing H-shares under its general mandate—demonstrating a firm commitment to protecting shareholder value.
 

Business Segments: Steady Progress in Shipping and Terminals

Container Shipping

Container shipping remained the main profit contributor. During the reporting period, the segment achieved revenue of RMB 161.031 billion, with an EBIT margin of 20.65%.

Amid rate volatility, the company optimized route networks, adjusted capacity structure, and deepened customer engagement, stabilizing its market share on major trade lanes. In Q3, average revenue per TEU on international routes rebounded to USD 1,276, reflecting strong profitability resilience.

As of end-September, COSCO SHIPPING Holdings operated a self-owned fleet of 572 vessels with a total capacity of 3.497 million TEUs, up 5.4% since the beginning of the year, and an average vessel age of 13.9 years. Over the next three years, the company has 57 newbuilds on order totaling about 1.01 million TEUs, including 42 methanol dual-fuel ships totaling 780,000 TEUs, signaling an acceleration in green-fleet development.
 

Terminal Operations

The terminal business maintained steady growth, with revenue of RMB 8.925 billion, up 12.35% year-on-year.

Regionally, the Bohai Rim, Pearl River Delta, and overseas terminals were key contributors, accounting for 35%, 20%, and 24%, respectively. The company continued strengthening key hub development—upgrading CSP Wuhan Terminal, Piraeus Terminal, and Abu Dhabi Terminal, and advancing CSP Qian Kai Terminal to become the first intelligent green port in South America, thereby enhancing the overall competitiveness of its global port network.
 

Accelerated Digital and Green Transformation

(1) Upgrading Supply Chain Service Capabilities

COSCO SHIPPING Holdings further enhanced its integrated “container shipping + ports + logistics” ecosystem, launching three global digital product systems covering trucking, rail, and warehousing services across more than 56 countries and regions, achieving global visibility, accessibility, purchase, and delivery.
 

Its global rail product now spans 24 countries and regions, promoting seamless sea-land multimodal transport.
 

In the first three quarters, supply-chain-related revenue reached RMB 32.894 billion, a 7.1% increase year-on-year, demonstrating steady growth potential beyond core shipping operations.
 

(2) Technology Empowerment and Operational Efficiency

In container shipping, the company established a “dual-layer customer-service system + supply-chain control tower”, improving end-to-end responsiveness. Its AI-based container inspection system has fully automated repair workflows, achieving several-fold efficiency gains over manual operations.
 

In terminals, AI technology enables integrated coordination across operations, data, and equipment. Its “Smart Port L4 Autonomous Driving Application” was recognized among the first high-value scenario cases at the World Artificial Intelligence Conference.
 

As of end-September, the company had issued over 680,000 electronic bills of lading via the GSBN digital platform, covering more than 80 countries, promoting global trade digitalization and standardization.
 

(3) Green Transformation: Setting an Industry Benchmark

COSCO SHIPPING Holdings advances low-carbon shipping through concurrent initiatives in fleet greening, cleaner fuels, and intelligent operations.

In 2025, China’s first methanol dual-fuel container ship, M/V COSCO Shipping Yangpu, completed its maiden voyage, while M/V COSCO Shipping Libra achieved the world’s first successful methanol dual-fuel retrofit.
 

The company also made milestone progress in the Shanghai Port–Los Angeles/Long Beach Green Shipping Corridor, while its Nansha, Lianyungang, and Wuhan terminals were awarded four-star Green Port ratings, establishing an end-to-end green shipping model spanning ships to ports.
 

Market Environment and Industry Outlook

The global container shipping market in the first three quarters of 2025 remained affected by macroeconomic and geopolitical uncertainties. The CCFI index averaged 1,236 points, down 22% year-on-year, but rose 3.6% quarter-on-quarter in Q3. According to Drewry and Clarksons, global container capacity is projected to grow about 6.8% in 2025, while demand is expected to rise 2–4%, suggesting a gradual restoration of supply-demand balance.
 

Facing future uncertainties, COSCO SHIPPING Holdings will continue positioning itself as a “globally digitalized supply chain operation and investment platform centered on container shipping.” Guided by a customer-centric approach, the company will enhance cost efficiency, strengthen risk-hedging strategies, and seize opportunities in emerging markets and high-value cargo segments. It will keep advancing green, low-carbon, and digital transformation, delivering higher-quality services for customers and long-term stable returns for shareholders.

For the global shipping industry, 2025 remains a year of challenges and transformation. COSCO SHIPPING Holdings continues to navigate cycles with resilience, drive growth through innovation, and empower the future through green development, steadily advancing amid global volatility and writing a new chapter in the story of “China’s Maritime Strength.”

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