Tianjin port development improves profit on higher volumes

Tianjin-Port

China’s Tianjin Port Development Holdings has improved its annual net profit on the back of increased container and cargo volumes handled at Tianjin port.

Net profit for 2016 rose to RMB1.8bn ($261.7m) from RMB1.69bn in the previous year, according to Hong Kong- and Shanghai-listed Tianjin Port Development.

Full year revenue, however, dipped to RMB13.05bn from RMB15.4bn in 2015.

The Chinese port moved a total container throughput of 7.18m teu for 2016, up 2.1% year-on-year. The handling of bulk cargoes also rose by 5.9% year-on-year to 303.34m dwt.