Cosco Shipping throughput in June fell 1% compared to last year

Meanwhile, its total throughput for the first half grew 7.9%.

Cosco Shipping Ports Limited (CSPL) reported a slight drop of 1% year-on-year (YoY) in June on its total throughput “due to the impact from temporarily disruption at Yantian Terminal.”

Cosco said monthly container throughput slid to  8.510 million twenty-foot equivalent unit (TEU) in June from 8.599m TEU in the same period last year.

“In the meantime, CSPL accelerated its growth momentum with its strong demand from the overseas region," Cosco said in a release.

“Especially, throughput from our subsidiaries CSP Zeebrugge and CSP Spain related companies further recovered, which recorded a YoY growth of 110.4% and 41.6%, respectively,” it added.

Cosco, which holds 19.79% of Qingdao Ports International Co. Ltd (QPI) as of end-March, said the throughput excludes those from QPI as it does not announce monthly throughput.

Cosco subsidiaries grew 13.6% in June YoY, while its non-subsidiaries, excluding QPI, declined by 4.9% YoY. Its overseas portfolio rose 9.2% YoY in June, while the greater China portfolio, excluding QPI, fell by 4.6% compared to the same month last year.

On the other hand, total throughput in the first six months of the year grew by 7.9% YoY, “driven by further global economic recovery, it said. Throughput rose to 51.05 million TEU in the first half from 47.29 million TEU in the first six months of 2020.

Its subsidiaries grew 8.2% in the first half of 2021 YoY, while its non-subsidiaries, excluding QPI, rose by 7.9% YoY. Its overseas portfolio increased by 4.7% in the first half YoY, while the greater China portfolio, excluding QPI, climbed by 9.2% compared to the same period last year.