CHINA's state-backed Cosco has jumped from fifth spot to third place in London consultancy Drewry's Global Container Terminal Operators Annual Review and Forecast 2019, in the wake of the maritime conglomerate's takeover of OOCL last year
CHINA's state-backed Cosco has jumped from fifth spot to third place in London consultancy Drewry's Global Container Terminal Operators Annual Review and Forecast 2019, in the wake of the maritime conglomerate's takeover of OOCL last year. Cosco's combined terminal throughput for 2018 surged by one-third to 46.1 million TEU, meaning that Hutchison Ports is only 600,000 TEU ahead of Cosco after its volumes fell 0.2 per cent last year to 46.7 million TEU, putting it in second place in this 'premier league' of global terminal operators, reported Singapore's Splash 247.
Singapore-headquartered PSA International is in clear first place with total throughput of 60.3 million TEU in 2018. PSA has a 20 per cent stake in Hutchison Ports.
'A premier league of seven big operators has emerged, after which the next largest player is a third of the size. Between them they accounted for nearly 40 per cent of global throughput in 2018. Within this elite group, Cosco has moved sharply up the table in this year's analysis,' Drewry's senior analyst for ports and terminals Neil Davidson was cited as saying.
Drewry's container port demand forecast through to 2023 is for global growth of 4.4 per cent per annum on average, raising world container port throughput from 784 million TEU in 2018 to 973 million TEU in five years' time.
Ports located in the Middle East and South Asia are anticipated to significantly outperform the global average.
WORLD SHIPPING
