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Cosco Shipping Ports volume growth slows down, overseas ports remain strong

CHINA's major port operator, Cosco Shipping Ports (CSP) saw container volume growth momentum slow down towards the end of the year with overall throughput in November rising 8.9 per cent to 7.52 million TEU from 6.91 million TEU in November 2016, driven by solid performance at its overseas ports and the newer southeast and southwest coast ports.

CSP's overseas ports saw volume soar 42.1 per cent to 1.85 million TEU from 1.30 million TEU in the previous corresponding period as its European terminals in particular did well while key Asian terminals in Singapore and Busan also saw good growth.

Newer terminals kept up their volumes as Guangxi Qinzhou International Container Terminal, the sole terminal in the southwest cluster saw volume rise 22.5 per cent to 135,400 TEU from 110,500 TEU previously. Meanwhile the southeast coast ports saw throughput rise 15.8 per cent to 484,500 TEU from 418,500 TEU.

The continued strength at these ports was offset however by the more mature markets. The Yangtze River Delta ports saw volumes rise 5.3 per cent to 1.66 million TEU from 1.58 million TEU previously, a slide in growth from the 9.6 per cent pace seen in the prior month.

Throughput at CSP's Pearl River Delta ports grew 2.5 per cent to 2.30 million TEU from 2.24 million TEU previously, which was a dramatic drop from the 11.3 per cent pace seen at the end of the high season in October. This however remains the group's port cluster with the highest absolute volume, and the Hong Kong terminals in particular did well in November with double-digit growth.

Finally the Bohai Rim region continues to do badly with volumes absolutely collapsing into a 13.1 per cent decline to 1.10 million TEU from 1.26 million TEU previously as the slow growth of much of the year finally completely gave out, Seatrade Maritime News of Colchester, UK reported.

The port operator said the year-to-date container volume rose 12.9 per to 79.83 million TEU.
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