Cosco Ports Q3 volume up 17%
Cosco Shipping Ports saw third quarter throughput rise 16.6% to 23.10m TEU from 19.81m TEU in the previous corresponding period.
"Driven by the growth of international trade and the supports from shipping alliances and shipping fleets of parent company, the Group’s total throughput recorded satisfactory growth," said a company statement.
For the nine months ended 30 September 2017, the Group’s total container throughput rose 13.5% to 64,885,641 TEU (corresponding period of 2016: 57,165,661 TEU).
For the three months ended 30 September 2017, the Group’s subsidiaries handled 18.9% (3Q2016: 19.6%) of the Group’s total throughput with a total of 4,355,405 TEU (3Q2016: 3,878,102 TEU), up 12.3%, while the Group’s non-controlling terminals handled the remaining 81.1% (3Q2016: 80.4%) or 18,749,369 TEU (3Q2016: 15,929,351 TEU), up 17.7%.
For the nine months ended 30 September 2017, the Group’s subsidiaries handled 19.1% (corresponding period of 2016: 20.6%) of the Group’s total throughput with a total of 12,401,873 TEU (corresponding period of 2016: 11,758,464 TEU), increased by 5.5%, while the Group’s non-controlling terminals handled the remaining 80.9% (corresponding period of 2016: 79.4%) with a total of 52,483,768 TEU (corresponding period of 2016: 45,407,197 TEU), up 15.6%.
The overseas terminals total throughput increased by 43.5% to 4,687,195 TEU for the three months ended 30 September 2017 (3Q2016: 3,266,303 TEU) and accounted for 20.3% (3Q2016: 16.5%) of the Group’s total.
The throughput of Piraeus Container Terminal S.A. in Greece dropped marginally at 0.6% to 951,359 TEU. Throughput of Kumport Liman Hizmetleri ve Lojistik Sanayi ve Ticaret A. Ĺž. (Kumport Terminal) in Turkey increased by 124.5%, mainly resulted from the increased calls from the shipping alliances.
The group said in a stock market announcement that the growth was driven by the growth of international trade and support from the alliances and calls from vessels of parent company, China Cosco Shipping Corp.
