Cosco Shipping Ports sees volumes rise 10.5% for 2016

China's COSCO secures $26bn financing pledge

Cosco Shipping Ports (CSP) ended the year on a high note, with a 10.5% rise in December overall throughput to 8.4million TEU, driven by stellar 72.1% growth at its overseas ports and a recovery into positive territory for all its reporting regions.

Reflecting the gathering storm though, overall growth for the whole of 2016 was less spectacular, rising 5.1% to 95.1million TEU.

The slowing Pearl River Delta and Yangtze River Delta regions saw negative growth, falling 2.1% and 3.0% to 24.7million TEU and 18.5million TEU respectively for the year.

In December, the Bohai Rim Region saw throughput rise 3.7% to 2.7million TEU while the slowly building Southeast Coast region grew by 9.8% to 403,800 TEU.

The Yangtze River Delta and Pearl River Delta regions saw more muted growth of 1.8% and 1.6% to 1.6million TEU and 2.2million TEU respectively.

Notably, the declines at CSP’s Hong Kong terminals continues and after a brief blip the month before, ended the year on a negative note. Volumes at Cosco-HIT Terminal ell 8.3% to 116,800 teu and at Asia Container Terminal volumes were down 7.4% to 110,500 teu in December.

For the year, the respective falls were 14.7% and 13.1%. Meanwhile other terminals in the Pearl River Delta also barely kept pace over the year, with only the relatively new Guangzhou South China Oceangate Container Terminal registering 6.6% growth for the year to 4.8million TEU.

Growth at CSP’s overseas terminals spiked 72.1% to 1.4million TEU, from three ports that were not included in the previous corresponding figures and added slightly over 500,000 boxes to the overall number.

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