China Merchant Port Holdings (CM Port) recorded net profits of HK$8,362 million in 2019; the company has pledged to push ahead with investments related to China’s Belt & Road Initiative as well as Green Port Projects.
For the year ended 31 December 2019, the group’s revenue was HK$8,898 million, a decrease of 12.4% year on year which was mainly attributed to the disposal of its equity interest in China Merchants Port Group.
In 2019, CM Port saw container throughput volumes rise by 2.4% year-on-year to 111 million TEUs, while total bulk cargo volumes fell back by 10.5% to 449 million tonnes.
The group’s mainland China container business saw a 3.6% throughput increase last year, mainly due to the growth in container volumes at its ports in the Yangtze River Delta region.
The group’s operations in Hong Kong and Taiwan handled an aggregate container throughput of 7.21 million TEUs, a decrease of 6.1% on the previous year.
Total container throughput handled by the group’s overseas ports grew by 0.9% year-on-year to 20.84 million TEUs. CMPort highlighted ‘the rapid growth’ in container throughput at Colombo International Container Terminals in Sri Lanka, TCP Participações S.A. in Brazil and Lomé Container Terminal S.A. in Togo.
Overseas bulk cargo volumes registered an increase of 26.1% year-on-year, while the wheeled and bulk cargo business in Hambantota International Port Group was said to have ‘progressed well’, with bulk cargo volumes growing from 0.18 million to 0.50 million tonnes over the year..
In terms of overseas expansion, the group said it had continued to seize the opportunities generated by China’s Belt & Road Initiative.
Across last year, ‘based on identifying Southeast Asian and South Asian gateway ports as key investment targets,’ CMPort pushed ahead with its strategy to acquire up to 10 CMA CGM SA terminals in Southeast Asia, South Asia, Europe and Caribbean Sea. The initial closing of the acquisition of eight of these terminals took place on 26 March.
The Group stated its intention to build Green Ports and said that it has ‘formulated rules regulations to manage energy conservation, environmental protection and strengthened assessment and management of environmental risks.’
It said it would focus on the development of energy technology and it flagged up its efforts to introduce shore based Power Supply for vessels at berth.