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Cosco Pacific to raise domestic service fees

1/12/2010 10:47:43 AM

Cosco Pacific will increase service charges in the south and the Bohai Rim area as it bets on an upswing in the nation's economy, the South China Morning Post reported.

The world's fifth-largest port operator, which owns stakes in 17 terminals from Dalian to Hong Kong and three overseas ports, forecasts domestic trade will recover more vigorously than global trade this year.

Clarksons, an international shipping consultant, predicts container trade worldwide will increase five percent this year while on the mainland it will grow eight percent.

Although the mainland's export-import trade rose for the first time last year, up 10 percent in November from a year earlier, the uncertainty in the recovery in the United States and Europe still clouds the upswing in global trade.

International trade is still more profitable than domestic trade.

The premium for international containers over domestic boxes is as much as 50 percent in Dalian but shrinks to just 20 percent in Shanghai.

Cosco Pacific intended to raise rates in Dalian, Qingdao, Tianjin and Guangzhou's Nansha.

On average, domestic trade accounts for 35 percent of total throughput at mainland ports while at some ports such as Nansha it is as much as 60 percent.


Cargonews Asia Pacific

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