COSCO Shipping Holdings has announced its unaudited results for the third quarter of 2025, reporting a significant decline in profitability due to lower market freight rates.
Net profit attributable to shareholders for the third quarter was CNY9.53 billion ($1.3 billion), a 55.14 per cent decrease compared to the same period in 2024. Operating revenue for the quarter also fell by 20.42 per cent to CNY58.50 billion.
For the first nine months of 2025, the company's operating revenue was CNY167.60 billion, a 4.09 per cent decrease from the corresponding period last year.
Net profit attributable to shareholders for the nine-month period was CNY27.07 billion, a 29 per cent decline. Net profit excluding non-recurring items fell by 29.15 per cent to CNY26.97 billion.
The company attributed the decline in profitability to changes in the supply and demand relationship in the container shipping market. It noted that market freight rates were down year-on-year, with the China containerised freight index (CCFI) average value decreasing by 39.49 per cent in the third quarter compared to 2024.
This led to a decrease in the group's single-container revenue. Despite the lower revenue, the group's container shipping business saw a 6.01 per cent increase in freight volume for the first nine months, handling 20.18 million TEU.
The group's terminal business, COSCO Shipping Ports, reported a total throughput of 113.28 million TEU for the first nine months, a 5.60 per cent increase year-on-year.
As of September 30, 2025, the group's total assets stood at CNY500.03 billion, and total equity attributable to shareholders was CNY232.24 billion.
