Qingdao Port International posts higher earnings in 2014


Qingdao Port International posted higher earnings for the financial year 2014 on growth from its logistics and various port services.

Net profit for the year ended 31 December 2014 rose 6% to RMB1.59bn ($255.8m) from RMB1.5bn in 2013. Revenue also grew 5.7% year-on-year to RMB6.9bn.

Looking ahead, Qingdao Port said it expects to face “many difficulties and pressures” in development, but opportunities are also present from China’s implementation of “One Belt and One Road” strategy and building of China-South Korea Free Trade Zone.

The group has plans to develop its stevedoring business, expand modern logistics, expand its financial sector, build an intelligent port, and explore overseas development.

Source from : Seatrade Global