Cosco Shipping Ports leverages on alliances to boost Q1 volumes 38% to 27m teu

Cosco Shipping Ports (CSP) was helped by support from the alliances as well as parent China Cosco Shipping Corporation to a 38% rise in first quarter throughput to 27.2m teu from 19.8m teu in the previous corresponding quarter.

The Greater China area still accounted for the bulk (79%) of the group’s volumes, and during the first quarter this rose 38% to 21.3m teu.

Among the individual regions within the sector, throughput of the Bohai Rim region recovered strongly and dominated this year, accounting for 33% of the group’s total from just 18% in the previous corresponding quarter. In absolute numbers, this more than doubled to 8.9m teu from 3.6m teu previously.

The Yangtze River Delta made up 17% of total throughput and amounted to 4.6m teu in the first quarter, sliding slightly due to the Lunar New Year break and prolonged foggy days at Shanghai Mingdong Container Terminals, CSP said.

The Southeast Coast saw the group’s second highest growth in the first quarter, rising 27% to 1.4m teu, although it only accounted for 5% of total revenue. In particular, the throughput of Xiamen Ocean Gate Container Terminal saw a 92% spike on increased calls from the OCEAN Alliance.

The Pearl River Delta region saw small but consistent gains, rising 6% in the first three months of the year to 6.2m teu. The throughput of Yantian International Container Terminals especially benefited from the growth in US and European exports, rising 9% to 2.9m teu.

Read More: HPH Trust cautiously optimistic for 2018, barring trade, geopolitical tensions

The overseas terminals continued to do well, with total throughput rising by 36.0% to 5.9m teu. Among these Piraeus Container Terminal was boosted by increased calls by the OCEAN Alliance and THE Alliance and saw volumes rise 20% to break the 1m teu mark.

Meanwhile, increased calls from the OCEAN Alliance, of which both CSP parent China Cosco Shipping and Singapore-based APL’s parent CMA CGM are members, helped boost throughput of COSCO-PSA Terminal 67% to 788,240 teu).

Posted 27 April 2018

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Vincent Wee

Asia Editor, Seatrade Maritime News

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