P&O's containers up 45%

Click to follow
The Independent Online

P&O yesterday said it was well-positioned to take advantage of a boom in world trade today, as it reported a 45 per cent increase in the number of containers passing through its network of ports.

P&O yesterday said it was well-positioned to take advantage of a boom in world trade today, as it reported a 45 per cent increase in the number of containers passing through its network of ports.

The logistics-to-ferries operator opened a number of ports in Asia and the US last year, as well as acquiring terminals in Indonesia and Argentina. These developments helped container traffic increase from 5.7 million containers in 1999 to 8.3 million last year. Fourth-quarter figures showed a jump in traffic to 2.3 million containers, from 1.8 million, led by strong growth in China and Indonesia.

Container traffic in Europe continued to rise, boosted by P&O's container terminal in Southampton, which hit the one million mark for the first time.

The group also said its cross-channel Stena Line business had suffered without the lure of duty-free, reporting a 10 per cent fall in passenger numbers for the year, to 11.6 million.

Comments