Tianjin Port Development Holdings recorded net profit attributable to shareholders of US$19.04 million in the financial year 2008, down 45 percent on year, on back of total revenue of $184.4 million, a rise of five percent year on year.

Zhang Jinming, president of the company, said it had handled more empty and transit containers whose handling charges were 50 percent less than that of cargo-filled containers, which hurt the company's bottom line.

Forty percent of Tianjin Port's total container throughput of 2.77 million TEUs were empty and transit containers and the average container handling charge decreased by 2.6 percent on year to $40.87.

The container handling charge may drop further in the future but the scope of the fall is narrowing.

Yu Rumin, chairman of the company, forecast the overall throughput volume of Tianjin Port will maintain growth in 2009 but the container throughput volume growth may not reach the previous forecast of 20 percent.

Source:cargonewsasia.com Author