Cargo throughput slips 2.9% in July: COSCO
This was driven by port congestion at some terminals.
Total cargo throughput slipped by 2.9% year-on-year (YoY) in July, which COSCO Shipping Ports Limited (CSPL) linked to the temporary impact of port congestion in Yangtze River Delta and Pearl River Delta.
In the first seven months of the year, CSPL recorded a 6.2% YoY growth in total throughput.
“CSPL accelerated its throughput growth momentum with further rebound in demand from overseas regions,” the company noted in a report.
“Especially, throughput from CSP Zeebrugge further recovered, which recorded a YoY growth of 65.0%.”
The overseas portfolio of CSPL grew by 10.5% YoY in July, whilst the Greater China portfolio, in particular, dropped by 7.8% YoY.
Year-to-date, the overseas portfolio saw a 5.6% YoY growth; whilst the Greater China portfolio increased by 6.4% YoY.