China port volumes make strong comeback


Thursday, 11 October 2012 03:20

The ports of Shanghai, Ningbo and Shenzhen defied international gloom to surprise analysts with a strong rebound in cargo and container throughput last month.

Shanghai, the world's busiest port, processed 2.91 million TEUs in September, a record month for the facility, according to the Shanghai International Port (Group), the city's port operator, reported the South china Morning Post.

The container volume was a 5.6 per cent increase on the same time last year, following year-on-year falls in August and July. Last month's throughput was also 11.6 per cent higher than that of August.

Shanghai's cargo throughput rose 10.1 per cent year- on-year to 44.42 million tonnes last month.

Ningbo, the mainland's third-busiest port after Shenzhen, processed 20 per cent more containers, or 1.59 million TEUs, last month compared with the same time last year. Its cargo throughput soared 23.5 per cent to 40.8 million tonnes.

The ports of Mawan and Chiwan in west Shenzhen posted a five percent year-on-year rise in container throughput, after suffering a seven per cent decline in the first eight months of the year, JPMorgan analyst Karen Li said.

Li said that according to industry sources, the port of Yantian in east Shenzhen should enjoy a year-on-year increase in container throughput "in the low teens" in September, after 12 per cent year-on-year growth in August.

Mawan and Chiwan ports export mainly to Europe, while Yantian exports mainly to the United States.

"The question is whether this rebound is sustainable," Li said.
Part of the reason for Shanghai and Ningbo's strong performance last month was bad weather in July and August, which hurt trade in the Yangtze River Delta where the two ports are located, she said.

Despite the bullish data, Sunny Ho Lap-kee, the executive director of the Hong Kong Shippers' Council, remains pessimistic about trade in the Pearl River Delta.

"Manufacturers in the Pearl River Delta are not seeing any encouraging signs. The worst time for them will be the first quarter of 2013," Ho said.

Source: Cargonews Asia