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China Merchants' global box volume up 6pc to 110m TEU in 2018

HONG Kong's major port operator China Merchants Port Holdings Company handled a total of 109

China Merchants' global box volume up 6pc to 110m TEU in 2018

HONG Kong's major port operator China Merchants Port Holdings Company handled a total of 109

03 April 2019 - 19:00

HONG Kong's major port operator China Merchants Port Holdings Company handled a total of 109.6 million TEU in 2018, an increase of six per cent over 2017.

The Hong Kong-listed port operator also said in its annual report that it had generated revenues of HKD10.16 billion (US$1.29 billion).



Container throughput from the shipping conglomerate's ports in mainland China contributed 80.73 million TEU to the total of 2018, an increase of 4.7 per cent compared to the previous year. The port operator said the increase was driven by a recovery of the Chinese economy and the growth of imports and exports to and from mainland China.



The core of the company's trade is its operations in the China Pearl River Delta region, which includes Hong Kong, Macau and Guangdong. The company's terminals in the west Shenzhen Port area handled 10.69 million TEU last year, down 4.4 per cent on the previous year. The company attributed the downturn to the HKD4 billion sale of its entire equity interest of a subsidiary formerly known as Shenzhen Chiwan Wharf Holdings (since renamed to China Merchants Port Group Co Ltd).



Overall box trade handled by the company's Hong Kong ports declined by 5.7 per cent. Operations in Hong Kong and Taiwan contributed 7.67 million TEU last year, which is a 2.5 per cent increase on the previous year.



The Yangtze River Delta region (the area around Shanghai), box throughput at Shanghai International Port was up 4.4 per cent to 42.01 million TEU. The company attributed the uptick to an increase in the number of shipping routes, which, in turn, was driven up by the recent reorganisation of shipping alliances. Another driver was the increase in automated handling capacity at Yangshan, reports New York's FreightWave.



The company's overseas port operations handled a total of 20.66 million TEU, which is a 12.9 per cent increase compared to the previous year. Overseas box throughput figures benefitted from 'rapid growth' at ports around the world: Colombo, Sri Lanka, up 12 per cent to 2.68 million TEU; Lome, Togo, increased by 18.3 per cent year-on-year to 1.05 million TEU; Terminal Link at Thessaloniki Port, Greece, handled 13.64 million TEU, up 8.6 per cent; Kumport Liman, Turkey, increased 18.3 per cent to 1.26 million TEU. There was also a smattering of box throughputs in Nigeria (0.48 million TEU); Djibouti (0.86 million TEU); and Brazil (0.69 million TEU from March to December).


WORLD SHIPPING

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