Valencia, Spain (PortSEurope) November 21, 2017 – Chinese shipping company Cosco Shipping Ports Limited does not waste time. After the purchase of Spanish group Noatum Ports in June and the change of managers in October, it has already begun to increase traffic of Valencia port. In the last four months, the foreign trade of full containers in the port increased by 6%, with 6.6% more exports and 5.34% more imports, in addition to a growth of 6.16% of traffic.
In this way, the sector highlights that its forecasts are fulfilled and the shipping company would move to the terminal to handle a greater number of its own vessels. Thus, total traffic of Valencia port up to October grew by 3.25% to 61.4 million tonnes and empty containers fell by 17.9%, according to data provided by Valencia port. Port sources foresee that Cosco will use Valencia as a port for its manoeuvres of transits in the western Mediterranean.
From there, the estimate is that the Chinese company will increase container traffic next year by 200,000 TEUs, versus the 4.8 million TEUs estimated to be reached this year. In this way, Valencia port would reach the desired five million containers. With the acquisition of Noatum Ports, the Chinese state-owned company assumed control of 50% of the container traffic in the port of Valencia and established a key hub to serve ships that go to America or return to Europe, after having taken over the ownership of the Greek port of Piraeus, in front of the exit of the Suez Canal.
Source: Las Provincias
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