Cosco forecasts 10% growth in mainland throughput

Cosco Pacific, the world's fifth-largest port operator, predicted container throughput at mainland ports would increase five to 10 percent next year as the stimulus packages introduced by governments across the world continue to shore up the global economy, the South China Morning Post reported.
Throughput at overseas terminals would grow at a slower speed than the mainland as the positive effect of the international fiscal policies lag behind Beijing's US$586 billion package, said Xu Minjie, vice-chairman of Cosco Pacific, after a shareholders' meeting yesterday.
Overseas ports would handle three to five percent more containers next year, he said.
Throughput figures at mainland ports have bottomed out in the third quarter. The decline in cargo volume handled by the ports invested by Cosco Pacific slowed to 4.8 percent in August from 8.5 percent in the first half.
Xu predicted the drop in throughput at all mainland ports would narrow to six percent for the full year in 2009 from 11 percent in the first half.
The rebound in the fourth quarter through to next year can be attributed to them coming off a low base from the start of the economic crisis towards the end of last year.