Container volume at major Chinese ports up 7% in late October
The impact tighter Covid-19 controls and renewed lockdowns in many western countries could be seen in a slower growth in volumes at major coastal Chinese ports in late October compared to mid-October.
The container volume at the eight major Chinese ports increased 7% year-on-year in late October, slightly slower than 8.4% from mid-October. Among which, the port of Ningbo-Zhoushan, Xiamen and Shenzhen all posted above a 10% growth rate.
Export container volume increased 8.1%, while the inland container volume increased 3.9%. Cargo throughput at coastal hub ports declined 5.5% year-on-year, and export cargo volume dropped 4.7%.
Crude oil shipments at major coastal ports dropped 3.1% while the port inventory increased 25.3%. Metal ore shipments at major Chinese ports declined 7.6% year-on-year, while port inventory increased 0.2%.
Amid the stable recovery of inland economy, three major ports along Yangtze river, Nanjing, Wuhan and Chongqing, posted a growth rate of 8% and 25% on container volume and cargo throughput.
Port operation along Yangtze river kept improving in October with an increase of 8% and 10.2% for container and cargo volume.