Cosco Shipping Ports Q3 volume up 17%

cosco

By Jite Eriabie

Cosco Shipping Ports saw third quarter throughput rise 16.6% to 23.10m teu from 19.81m teu in the previous corresponding period.

The group said in a stock market announcement that the growth was driven by the growth of international trade and support from the alliances and calls from vessels of parent company, China Cosco Shipping Corp.

For the year-to-date, the group’s total container throughput rose 13.5% to 64.89m teu from 57.17m teu previously.

The best performing segment continued to be the group’s overseas ports, which not only increased in their proportion of total throughput from 16.5% to 20.3% but also saw the highest rise in volumes for the third quarter, gaining 43.5% to 4.69m teu.

There was also good performance at the group’s key Pearl River Delta ports where the share of total volume remained constant at about a third of overall but throughput increased by 15.2% to 7.48m teu.

Cosco Shipping Ports attributed this to recovery in international trade and increased calls by the OCEAN alliance as well as the co-management of Cosco-HIT terminals and Asia Container Terminals.

Meanwhile, the segment with the next biggest share of overall throughput, the Yangtze River Delta (21.5%) also saw a decent 9.2% gain in volumes to 4.96m teu in the third quarter.

This was attributed to the reshuffling of routes by the alliances and efforts to actively pursue overtime calls.    

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