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Cosco Pacific slips 1.3pc to 5.88 million TEU in August after decent July

COSCO PACIFIC throughput fell 1.3 per cent to 5.88 million TEU in August, its first month of decline in 2015 for the global port operator of the Cosco group.

Cosco Pacific saw its big volume terminals in the northern Bohai Rim ports provide minimal growth of 0.8 per cent in August to 2.12 million TEU year on year.

Throughput had grown a relatively strong 5.6 per cent in July and the region had been the group's best performing segment, reported Seatrade Maritime News.

Cosco Pacific's Yangtze River Delta volume fell 7.1 per cent to 790,700 TEU in August year on year after a two per cent slip in July to 832,400 TEU. Meanwhile, the Pearl River Delta was down 1.3 per cent to 1.83 million TEU.

This segment has seen year-on-year declines earlier this year in March and April, at the height of the low season when volumes dropped 3.4 per cent and 2.1 per cent respectively compared to the previous corresponding periods.

Overall, Cosco Pacific's overseas ports fell 6.5 per cent to 778,000 TEU. But Piraeus volumes went up 2.9 per cent to 246,200 TEU.

Declines in July at terminals at Quanzhou and Xiamen were reversed and Kao Ming was up 26.1 per cent from 5.6 per cent in the month before.

The only weak spot in the segment remains the Jinjiang terminal that lies between Quanzhou and Xiamen. It saw negative growth figures from the beginning of the year and a decline of 29.8 per cent in August.