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Major world ports achieve 7.7pc box throughput growth in Q3: SISI report

MAJOR ports globally saw third quarter cargo traffic rise by 6.4 per cent year on year, according to data published by the Shanghai International Shipping Institute (SISI).

"Major ports in the world completed a container throughput of 82,072 million TEU, with a year-on-year growth rate of 7.7 per cent, up by 0.5 percentage points from that in Q2, showing strong growing momentum," according to the institution's Global Port Development Report about the third quarter of 2017.

The report presented a number of highlights, including all major ports in the US enjoying positive container throughput growth on the back of the US economy maintaining steady growth in the third quarter.

"GDP growth rate was 1.2 per cent in Q1, 3.1 per cent in Q2 and three per cent in Q3. In addition, the import and export values of the United States in the first half of this year totalled US$1.89 trillion, up by seven per cent year-on-year," the study was cited as saying in a report by American Shipper.

The US ports of Long Beach and Vancouver registered double-digit growth rates year on year, with their third quarter container volumes reaching 2.11 million TEU and 856,000 TEU, respectively.

The North American ports of Virginia, Houston and Montreal demonstrated similar year-on-year growth rates at 5.85 per cent, 6.29 per cent and 5.77 per cent, respectively. Meanwhile, container throughput at Seattle and Tacoma illustrated slow growth.

Other key finding of the report include: a significant increase in growth rates of domestic trade cargo throughput at China's ports; robust growth of import and export cargo volumes at South Korean ports; and stable cargo throughput growth at European ports.

Aside from Cosco Shipping Ports Ltd, which experienced negative year-on-year growth, all other major global terminal operators registered positive growth in the third quarter. DP World achieved the highest year-on-year growth at 27.9 per cent.