Cosco Pacific sees strong volume growth in November
19 December 2014Shipping News
COSCO group's port operator, Cosco Pacific, posted consistent gains throughout its international container terminal network that dominates Chinese ports.
While gains were everywhere, the Yangtze River Delta volumes were disappointing as throughput fell two per cent year on year in November to 844,200 TEU.
At Shanghai, throughput dropped 16.3 per cent, plummeting 54.1 per cent at Zhangjiagang, and 5.6 per cent at Taicang. Still, year-to-date the unhappy trio managed a 5.5 per cent gain to 9.12 million TEU.
More cheerfully, Bohai Rim ports posted a 10.3 per cent year-on-year increase to 2.06 million TEU and a 6.5 per cent year-to-date rise to 23.19 million TEU in the first 11 months at Qingdao, Tianjin and Dalian.
Cosco terminals in the Pearl River Delta, including Shenzhen's Yantian as well as terminal operations in Guangzhou and Hong Kong experienced a recovery from last year, rising 19.9 per cent to 1.71 million TEU in November.
Year-to-date PDR volume rose 12 per cent to 17.35 million TEU, as volumes from newly acquired Asia Container Terminals (ACT) in Hong Kong was incorporated from March.
Cosco Pacific's Piraeus and Suez investments are paying off with November throughput rising 12.3 per cent to 809,100 TEU while year-to-date figures are up 17.8 per cent to 8.61 million TEU.
Newer terminals in Quanzhou and Xiamen, opposite Taiwan, have had slower growth. November throughput rose 9.3 per cent to just 316,400 TEU although year-to-date numbers rose 16.3 per cent to 3.47 million TEU.