Starting in China, where the pandemic was mainly concentrated in the opening months of the year and the first country to lift lockdown restrictions, Cosco Shipping Ports — part of the China Cosco Shipping Corp conglomerate — reported an 11% drop in revenue for the first quarter of the year, while total throughput contracted by 4.4%
It was in Greater China that the company saw the biggest effect of the health crisis, with handling volume down 6.6% to 20.7m teu in the opening months. In comparison, the volume at its ports elsewhere around the world was up 3% to 6.8m teu year on year.