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Cosco Pacific's terminals see slowing growth

Cosco Pacific's terminals see slowing growth
The slowdown in China's economy is starting to be seen in the figures of port operators such as Cosco Pacific, which saw first quarter total throughput at all its ports rise 6.6.% for the three-month period but rise only 1.1% in March.

And even this figure was boosted as usual by its overseas terminals, which saw throughput rise 10.9% in March. At its China terminals, established ports in the Bohai Rim and Pearl River Delta saw drops of 0.5% and 3.4% respectively while the newer terminals, starting from lower bases, in the Yangtze River Delta and Southeast Coast saw modest gains of 4.1% and 1.8% respectively in March.

Good growth in the Pearl River Delta and Southeast Coast ports in January and February contributed to first quarter rises of 12.7% and 17.5% respectively but a sharp slowdown in March noticeably brought down the first quarter average.

In the main Bohai RIm however the consistently flat growth resulting in 1.1% rise in throughput for the first three months seems to be a clear sign of the slowdown in China's main consuming markets in the North. However, this region has the highest base with 6.2m teu moved, up from 6.1m in the previous corresponding period.