world-economy

Cosco Secures 50-Year Tarragona Port Concession Amid European Gateway Expansion

Chinese shipping giant Cosco has secured a 50-year port concession at Tarragona on Spain's eastern coast. The move reflects investment in Iberian gateway infrastructure as automotive cargo flows through the region. Cosco joins other major operators reshaping port partnerships across Europe. South Korean forwarder LX Pantos Americas recently inked a collaboration agreement with a major East Coast U.S. port authority, signaling broader industry momentum toward long-term terminal arrangements. Meanwhile, U.S. port data shows mixed activity. Oakland's export volumes held relatively steady year-over-year in recent months despite declining vessel calls, indicating efficiency gains among carriers. Air cargo growth forecasts faced headwinds in 2026 following supply chain disruptions tied to Middle East tensions, prompting industry revisions downward.