[050913.EN.BIZ] US Recovery, EU Levelling, Plus China Demand Sparks 8.4pc Port Growth

CHINA'S economy in July posted year-on-year gains of 9.7 per cent in industrial added value, 24 per cent more investment and a 7.8 per cent increase in foreign trade, driving sea and river port box volume up 8.4 per cent to 16.49 million TEU, reports the Ministry of Transport.

Sea ports lifted 14.67 million TEU, up 7.6 per cent while river ports handled 1.81 million TEU, up 14.7 per cent, according to an article in China Water Transport, a Ministry of Transport publication.

From January to July, cumulative throughput of the Chinese ports grew 8.3 per cent to 108 million TEU, said the report.

In July, imports and exports reversed earlier declines in June with container throughput hitting new highs of 16.5 million TEU, representing 0.3 per cent more growth than in June.

The ministry attributed growth to recovery in the US, and that Europe, together with new markets, no longer posted declines in July with Sino-European trade value up five per cent while Sino-US trade increased 10 per cent.

Hot weather and thriving real estate demand also brought on greater domestic consumption of electricity power and steel, stimulating a demand for coal, iron ore and crude oil.

In the first seven months, Dalian, Yantai, Qingdao, Lianyungang, Xiamen, Nanjing and Suzhou all recorded year-on-year growth of more than 10 per cent. Shanghai stayed on top with 19.31 million TEU volume, followed by Shenzhen with 13.13 million TEU.

Total Chinese port volume in the first seven months increased 10.4 per cent year on year to 901.27 million tonnes. Sea port volume was up 11 per cent up to 614 million tonnes while river ports posted a 9.2 per cent increase to 287 million tonnes.

From January to July, Chinese ports' throughput amounted to 6.12 billion tonnes, up 10.1 per cent.

In the first seven months, Dalian, Yingkou, Huanghua, Tangshan, Yantai, Qingdao, Rizhao, Fuzhou, Xiamen, Nanjing and Suzhou all surpassed 10 per cent. Ningbo-Zhoushan's throughput tonnage continued to be the largest in China, which was close to 500 million tonnes.

In July, Chinese port foreign trade volume increased 10.1 per cent to 279 million tonnes. Sea ports handled 254 million tonnes, up 10.4 per cent. River ports handled 25.18 million tonnes, up 7.7 per cent.

From January to July, foreign trade throughput grew 8.6 per cent to 1.92 billion tonnes.

Domestic trade retained its double-digit growth in July though 0.9 percentage points slower than in June. This was the first time that the growth of domestic trade shrank.

In the first seven months, Yingkou, Huanghua, Tangshan, Tianjin, Yantai, Ningbo-Zhoushan, Rizhao, Fuzhou, Nanjing, Zhenjiang and Nantong saw their volumes surpass 10 per cent.

Source : HKSG.