SISI: Global ports see stable throughput growth in Q3 2017

The Shanghai International Shipping Institute’s third quarter Global Port Development Report illustrated how cargo throughput at major ports across the globe grew by 6.4 percent year-over-year during the third quarter of 2017.    Cargo throughput at major ports across the globe grew by 6.4 percent year-over-year during the third quarter of 2017, according to a report released by the Shanghai International Shipping Institute (SISI) on Monday.
   The SISI, an institution of research and consultation on international shipping industry development, said that although the year-over-year growth was strong last quarter, it was actually a slight drop compared to Q2 2017.
   However, growth was steady on the whole during Q3 2017, according the institution’s Global Port Development Report of Q3 2017.
   “Major ports in the world completed a container throughput of 82,072 million TEUs, with a year-on-year growth rate of 7.7 percent, up by 0.5 percentage points from that in Q2, showing strong growing momentum,” the institute said in its report.
   Major ports around the globe, however, presented varied performance in dry bulk throughput.
   “Ports in Hebei, and other ports in China demonstrated robust growth in dry bulk cargo throughput, while some ports in Europe, such as Rotterdam Port and Antwerp Port, suffered negative growth in dry bulk cargo throughput,” the report said.
   “Liquid bulk cargo throughputs of major ports in the world displayed polarization,” the report said. Ports in Asia, such as Singapore and South Korea, experienced robust growth in liquid bulk, while the Port of Rotterdam’s liquid bulk cargo throughput plummeted 10.5 percent.
   Global port production in Q3 2017 presented seven major highlights, according to the SISI, with one being strong growth in container throughputs at American ports. 
   “In Q3, the U.S. economy maintained steady growth,” the Global Port Development Report said. “Since Trump came to power, the U.S. economy has come off early lows. Its GDP growth rate was 1.2 percent in Q1, 3.1 percent in Q2 and 3 percent in Q3. In addition, the import and export values of the United States in the first half of this year totaled 1.89283 trillion U.S. dollars, up by 7 percent year-on-year.”
   As a result, container throughput of major ports in the U.S. all enjoyed positive growth, with the ports of Long Beach and Vancouver recording double-digit growth rates year-on-year. Their container throughputs in Q3 reached 2.114 million TEUs and 856,000 TEUs, respectively.
   The ports of Virginia, Houston and Montreal demonstrated evenly matched year-on-year growth rates at 5.85 percent, 6.29 percent and 5.77 percent, respectively. Meanwhile, container throughput at Seattle and Tacoma illustrated slow growth.
   Other highlights of the report include:
     • A significant increase of growth rates of domestic-trade cargo throughputs of China’s ports;
     • Robust growth of import and export cargo volumes at South Korean ports;
     • Stable cargo throughput growth at European ports;
     • A slowdown in growth rates of dry bulk throughput of Australian ports;
     • Stable port rankings by cargo throughput;
     • And a total increase in the throughput growth rate for global terminal operators.
   Aside from COSCO Shipping Ports Ltd., which suffered year-on-year negative growth, all other major global terminal operators registered positive growth last quarter, the report found. DP World recorded the most remarkable growth, with its year-on-year growth rate hitting 27.9 percent, following a rising curve for three straight quarters.
   “Based on the data of this quarter, the global economy is gradually recovering, and the international trade market is gradually picking up,” the report said. “Global terminal operators should take this opportunity to allocate their resources into active adjustment of strategic landscapes, and take measures such as investment in shares, expansion, upgrading, and improvement of berth productivity to improve their business performance.”