Thursday, October 11, 2012
China's premier ports have a good September
Container volumes rose sharply at China's top ports in September, compared to the same time last year.
Economists polled by Reuters expect China's annual exports to grow by 5 percent in September, increased from 2.7 percent in August. They forecast imports will bounce back from lower volume in August. Official data will be released Saturday.
Shanghai Port, the world's busiest container port, had a 5.6 percent increase in container volume in September year on year. Shanghai reached 2.91 million TEUs, increased from 2.61 million in August. The year-on-year increase for the month is tempered by a fall of 7.1 percent in August. Cargo volumes rose 10 percent on the year to 44.41 million tons.
At Ningbo Port container volume in September surged 20 percent. Ningbo's container throughput reached 1.59 million TEUs, versus 1.39 million TEUs in August.
"I don't think this necessarily means that the broader economy is turning around. This shows that trade is expanding, but this may be due to factors such as government investment in transportation and other programs to influence demand," said Ma Xiaoping, an economist at HSBC. "Higher consumption during the national holiday is also a factor."
Ningbo Port's container throughput reached 1.59 million TEUs, versus 1.39 million TEUs in August.
For more of the Reuters story: reuters.com
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