Shanghai International Shipping Institute recently released the Global Port Development Report of Q1 2019. According to the report, the global economy exhibited an evident downward trend in Q1, with weak growth in major economies, continued depression in international trade and investment, sluggish manufacturing performance and declines in multiple economic and trade indicators. The International Monetary Fund (IMF) tuned down again the yearly economic growth projection to 3.3% in its global economic prospect report released in April. The production at major ports around the globe slowed down growth amid the feeble economic and trade growth.

        In Q1, major ports in the world recorded a year-on-year growth rate of 2.7% in throughput, lower than that in the same period of last year. The container throughput growth was mere 3.9% year-on-year, 2.7 percentage points lower than that of last year. The global ports also witnessed slack growth for bulks, with the growth rates of major iron ore and coal ports on a nose-dive. In the meantime, global liquid bulk ports presented polarization, with China's oil product throughput continuing to rise on a high level, against the underperformed oil product throughputs at major ports in Singapore, South Korea, etc. Among global terminal operators, COSCO Shipping Ports, China Merchants Port and others also underperformed the same period of last year in terms of business performance. Except DP World which suffered a decline, all other terminal operators managed to sustain low-rate growth.

        The full-page version can be obtained at the Global Port Development in the Research Reports on our website soon after.