Container turnover of Cosco Shipping Ports rose by 7.5% in Q1 2017

Cosco Shipping PortsThe total container turnover of the terminals of the Chinese port operator Cosco Shipping Ports (CSP) in the first quarter of 2017 amounted to 22.25 million TEU, which is 7.5% more than the same period last year. The turnover of foreign terminals outside of China has grown most significantly. In total, turnover of CSP’s foreign assets exceeded 3.1 million TEU in the first three months, which is 38.6% more than an year ago. The turnover of terminals in the Greek port of Piraeus increased by 3.4% to 0.834 million TEU, the Suez Canal Container Terminal in Egypt increased volumes by 15%, to 0.738 million TEU, while only in March the terminal’s turnover grew by 27% yoy, to 0.285 million TEU. The container terminal ECT in the port of Rotterdam, in which CSP acquired 35% for 125 million EUR last year, handled 0.666 million TEU for the quarter, while in March the terminal turnover was 0.226 million TEU.

In China, the turnover of CSP terminals in ports on the Bohai Sea coast decreased by a percentage share and amounted to 7.7 million TEU in the quarter. Qingdao Qianwan Container Terminal, the largest in the CSP portfolio, accounting for more than 18% of the operator’s total turnover, handled 4.15 million TEU, but the result represents a decrease of 3.5% yoy. In March, the traffic through the terminal decreased by 5.4%.

The terminals of the southeastern coast increased transshipment by 9.9%, to 1 million TEU, to the south-west coast by 4.8%, to 0.275 million TEU.

The container throughput of the ports located in the deltas of the Yangtze and Zhujiang rivers reported an increase in volumes of 2.5% and 4.6%, to 4.7 million TEU and 5.9 million TEU, respectively.

Cosco Shipping Ports, which is headquartered in Hong Kong, is a subsidiary and listed company of China Cosco owned by Cosco Group. It is mainly engaged in container terminal operations, container manufacturing and leasing, shipping agency and freight forwarding.