COSCO Energy: The net profit in the first three quarters of 2022 was about 640 million yuan
- Author:Elena
- Release Date:2022-10-31
In the first three quarters of 2022, COSCO could achieve 5.93 billion tons of oil capacity, an increase of 3.0%year -on -year; the transport volume (excluding period rent) was 1301 million tons, an increase of 5.9%year -on -year; transportation turnover (excluding period rent) 3,967.4 3,967.4 100 million tons, an increase of 5.7%year -on -year. The operating income of the tanker sector was RMB 11.42 billion, an increase of 37.0%year -on -year; operating costs were RMB 10.52 billion, an increase of 35.7%year -on -year; gross profit margin was 7.9%, an increase of 0.9 percentage points year -on -year; the net profit attributable to shareholders of listed companies was RMB 64 billion , An increase of 44.19%year -on -year.
Since the end of February 2022, there have been signs of recovery in various ship markets.
In terms of crude oil wheels, the company's VLCC and Crude Oil small and medium -sized fleets follow the market trend and concentrate on the phased high. At the same time, it flexibly adjusts the ship repair plan. The income of the spot market has improved significantly.
In terms of refined oil tankers, the company has fully played the advantages of flexible operations, rationally deploy domestic and foreign trade capacity, and refined oil ship fleets also accurately seize market opportunities and bring considerable benefits to the Group.
At the same time, the company's new LNG transportation project has accelerated the pace of landing. As of the end of September 2022, the company to be delivered to the LNG transportation ships to be delivered has increased from 9 at the beginning of the year to 18, and the LNG business territory has continued to expand.
In the first three quarters of 2022, the company's foreign trade oil transportation business achieved gross profit of RMB 097 million; of which, the gross profit of RMB 333 million in the third quarter, an increase of 671.0%from the previous month. The domestic oil transportation business realized RMB 996 million in gross profit. LNG transportation business contributed to the net profit of RMB 575 million in net profit.
As of September 30, 2022, the company had a total of 160 oil shipping capacity and 23.5 million yuan. The company participated in a total of 56 LNG ships. Among them, 38 LNG ships that have been put into operation, 6.42 million cubic meters; 18 LNG ships under construction, 3.13 million cubic meters.
Since the end of February 2022, there have been signs of recovery in various ship markets.
In terms of crude oil wheels, the company's VLCC and Crude Oil small and medium -sized fleets follow the market trend and concentrate on the phased high. At the same time, it flexibly adjusts the ship repair plan. The income of the spot market has improved significantly.
In terms of refined oil tankers, the company has fully played the advantages of flexible operations, rationally deploy domestic and foreign trade capacity, and refined oil ship fleets also accurately seize market opportunities and bring considerable benefits to the Group.
At the same time, the company's new LNG transportation project has accelerated the pace of landing. As of the end of September 2022, the company to be delivered to the LNG transportation ships to be delivered has increased from 9 at the beginning of the year to 18, and the LNG business territory has continued to expand.
In the first three quarters of 2022, the company's foreign trade oil transportation business achieved gross profit of RMB 097 million; of which, the gross profit of RMB 333 million in the third quarter, an increase of 671.0%from the previous month. The domestic oil transportation business realized RMB 996 million in gross profit. LNG transportation business contributed to the net profit of RMB 575 million in net profit.
As of September 30, 2022, the company had a total of 160 oil shipping capacity and 23.5 million yuan. The company participated in a total of 56 LNG ships. Among them, 38 LNG ships that have been put into operation, 6.42 million cubic meters; 18 LNG ships under construction, 3.13 million cubic meters.