COSCO 1H: revenues up, profits down

COSCO Shipping Holdings “sustained its industry-leading financial performance” in the first half of 2026, after a strong turnaround in the second quarter.

In the first half of 2026, the company posted operating revenue of RMB 111.92 billion (USD 16.21 billion), up by 2.59% year-on-year. It realized an EBIT of RMB 19.63 billion, with the net profit reached RMB 15.70 billion. However, profits were down year-on-year.

The net profit attributable to the shareholders of the company amounted to approximately RMB 13.42 billion. In the second quarter, the net profit attributable to the shareholders of the Company was RMB 7.54 billion, up by 28.33% from the previous quarter.

COSCO Shipping Holdings said during the reporting period, the shipping volume handled by the container shipping business segment increased by 7.52% year-on-year to 14.28 million TEU; this segment generated revenue of RMB 107.30 billion, up by 2.38% year-on-year.

Meanwhile, the terminals controlled by the company handled a total throughput of 16.89 million TEU, representing an increase of 2.50% year-on-year; this segment generated revenue of RMB 6.33 billion, up by 8.30% year-on-year.

During the reporting period COSCO Shipping Holdings recorded a net cash inflow from operating activities of RMB 23.33 billion. As of 30 June 2026, the company’s asset-liability ratio further declined to 41.01%.  

“In the first half of 2026, despite the overall resilience of global merchandise trade, the global shipping industry faced mounting challenges in operational safety, supply chain stability and cost management driven by geopolitical risks, trade policy uncertainty, supply-demand fluctuations, and elevated fuel prices,” COSCO Shipping Holdings said.

“In the face of a complex and ever-changing external environment, COSCO Shipping Holdings enhanced market assessment, dynamically optimized global resource allocation, accelerated its digital and green transition through innovation, and steadily enhanced its global service capability and operational quality. The company sustained its industry-leading financial performance, underscoring its strong resilience.

“Since the beginning of 2026, COSCO Shipping Holdings has continued to pursue the integrative development of “container shipping + port + related logistics” services. While consolidating the foundation of core shipping business, the Company has bolstered its full-chain service capabilities and accelerated the transformation towards digital intelligence and green development. It is committed to building a stable, highly efficient and resilient global supply chain network.”

COSCO Shipping Holdings said in recent years, the shipping industry has been affected by the fragmentation of global trade, continuing disturbance of geopolitical conflicts, structural port congestion and increasingly stringent environmental regulations.

“Therefore, the market players have had to increase their shipping capacity to ensure the stability of supply chain. In order to seize the initiative in an ever-changing market, COSCO Shipping Holdings has steadily expanded its fleet scale through a combination of vessel leasing and newbuildings.

“As of the end of July 2026, the company possessed a self-owned container fleet comprising 606 vessels with a total capacity of 3.66 million TEU. Including newbuilding orders and chartered vessel orders (under construction), its controllable capacity exceeds 5.30 million TEU.

“The number of new energy-powered vessels (including newbuildings and retrofitted vessels) reached 70 with a total capacity of 1.22 million TEU, of which, nine vessels had entered service. The company announced today [28 August]to place orders for the construction of another twelve new 22,000 TEU LNG dual-fuel containerships and six new 3,200 TEU wide-body containerships. They will enable the company to secure long-term and stable shipping capacity for expansion into emerging markets, regional markets and third-country markets, strengthen its ability to withstand supply chain risks, and lay a solid foundation for fleet renewal and upgrading.”

Looking ahead to the second half of 2026, both opportunities and challenges lie ahead for the container shipping market, COSCO Shipping Holdings said.

On the one hand, global economy and trades are expected to maintain moderate growth, while emerging and regional markets will remain a major growth driver for the global container shipping industry. During the transition period for “the replacement of old growth drivers by the new ones”, emerging technologies such as AI, advanced manufacturing and the energy transition are expected to provide new momentum for trade growth and create new opportunities for the expansion of shipping market.

On the other hand, the heightened geopolitical risks, coupled with continual changes in global tariff policies of major economies, are poised to accelerate the reshaping of global trade landscape, which will place higher demands on the service flexibility and supply chain resilience of liner companies.

“In addition, the optimization and upgrading of industrial chain and supply chain is gaining momentum on accelerated iteration of AI technologies, which will in turn set higher standards for digital delivery and intelligent operation of the shipping industry,” COSCO Shipping Holdings said.

“Against this backdrop, the container shipping industry is entering a new stage of competition based on comprehensive strengths, which including systematization, full-chain integration, digital intelligence and resilience.”