Cosco Shipping Ports (CSP) saw container volume growth momentum slow down towards the end of the year with overall throughput in November rising 8.9% to 7.52m teu from 6.91m teu in November 2016, driven by solid performance at its overseas ports and the newer southeast and southwest coast ports, although the pace of growth was a touch off from the 12.4% month-on-month rise seen in October and the general double digit rises seen through most of the year.
CSP’s overseas ports saw volume soar 42.1% to 1.85m teu from 1.30m teu in the previous corresponding period as its European terminals in particular did well while key Asian terminals in Singapore and Busan also saw good growth.
Newer terminals kept up their volumes as Guangxi Qinzhou International Container Terminal, the sole terminal in the southwest cluster saw volume rise 22.5% to 135,400 teu from 110,500 teu previously. Meanwhile the southeast coast ports saw throughput rise 15.8% to 484,500 teu from 418,500 teu.
The continued strength at these ports was offset however by the more mature markets. The Yangtze River Delta ports saw volumes rise 5.3% to 1.66m teu from 1.58m teu previously, a slide in growth from the 9.6% pace seen in the prior month.
Throughput at CSP’s Pearl River Delta ports grew 2.5% to 2.30m teu from 2.24m teu previously, which was a dramatic drop from the 11.3% pace seen at the end of the high season in October. This however remains the group’s port cluster with the highest absolute volume, and the Hong Kong terminals in particular did well in November with double digit growth.
Finally the Bohai Rim region continues to do badly with volumes absolutely collapsing into a 13.1% decline to 1.10m teu from 1.26m teu previously as the slow growth of much of the year finally completely gave out.