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Cosco Pacific's Bohai Rim ports only bright spot as volumes fall throughout

Cosco Pacific's Bohai Rim ports only bright spot as volumes fall throughout
Container terminal operator Cosco Pacific's ports' July performance followed a pattern that has become typical in recent months, with the northern Bohai Rim ports the only ones to show positive throughput figures with a 5.6% rise in volumes to 2.23m teu from 2.11m teu in July 2014.

However, even this bright spot is dimming, with year-to-date figures just 2.3% higher than the equivalent period the year before at 14.99m teu. Going down the coast, performance weakens, with the Yangtze River Delta Ports seeing 2.0% lower throughput of 832,400 teu in July and the Southeast coast ports plunging 8.0% to 331,900 teu from an already low base of 360,700 teu in July 2014.

The Pearl River Delta ports, which include major volume movers in Hong Kong as well as Shenzhen, managed to just about keep pace with the year before, posting a 0.7% growth in volumes to 1.72m teu. A closer look however reveals that the 7.5% growth in volumes at Yantian International Container Terminals basically took up the slack for the underperformance and drops in volumes at the group's two Hong Kong terminals and the shocking 13.!% plunge at its Guangzhou terminal.

Even at Cosco Pacific's overseas terminals, the Greek woes have finally caught up with it and a 1.7% drop in volumes at its Piraeus Container Terminal resulted in an 0.8% fall in contributions from the overseas terminals to 844,400 teu.