Earnings results reveal early impact of coronavirus

Starting in China, where the pandemic was mainly concentrated in the opening months of the year and the first country to lift lockdown restrictions, Cosco Shipping Ports — part of the China Cosco Shipping Corp conglomerate — reported an 11% drop in revenue for the first quarter of the year, while total throughput contracted by 4.4%

It was in Greater China that the company saw the biggest effect of the health crisis, with handling volume down 6.6% to 20.7m teu in the opening months. In comparison, the volume at its ports elsewhere around the world was up 3% to 6.8m teu year on year.

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