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
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.