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Cosco Pacific sees slugghish growth at Bohai Rim, Pearl River Delta terminals

Cosco Pacific sees slugghish growth at Bohai Rim, Pearl River Delta terminals
April container throughput figures at one of China's major port operators continues to reflect the patchy economic conditions that are prevailing this year, with Cosco Pacific reporting continued slow year-on-year growth of just 0.9% for its Bohai Rim ports.

Meanwhile the Yangtze River Delta ports rebounded to grow by 10.2% recovering from sluggish 4.1% growth the month before.Meanwhile at the group's other terminals on the Southeast Coast and in the Pearl River Delta, growth slowed to 0.6% from 1.8% and moderated its decline to 2.1% from 3.4% previously respectively.

At the key Pearl River Delta ports, which next to the Bohai Rim constitute Cosco Pacific's highest volumes, throughput fell between 0.9% to 8.2%, with the last figure showing from the Guangzhou South China Oceangate terminal was especially hard-hit. At the Hong Kong joint venture terminal Cosco-HIT Terminal, growth also fell 6.6% in April.On the whole throughput rose 0.6% for all of the group's terminals in April.

Finally, Cosco-Pacific's previously well-performing overseas terminals also saw a sharp decline in volumes, falling 4.9% overall in April from a 10.9% rise in March. The Piraeus Container Terminal and Suez Canal Container Terminal saw falls of 13.2% and 20.4% respectively.