Preliminary data suggests throughput at the mainland's leading ports worsened last month from May, although other indicators such as the purchasing managers' index, which measures manufacturing activity, improved, the South China Morning Post reported.
Container throughput at Shanghai International Port Group (SIPG), which operates the Shanghai port, was two million TEUs, representing a 17.8 percent year-on-year drop, while the volume of cargo handled fell 7.6 percent to 3.05 million tonnes.
The figures were worse than in May, when SIPG's throughput was 2.08 million TEUs, representing a 12.4 percent drop, while cargo volume fell 6.9 percent to 3.2 million tonnes.
Meanwhile, Chiwan port in western Shenzhen had an average daily throughput of 11,000 TEUs last month, compared with 12,000 to 13,000 TEUs in May, said Nomura International analyst Jim Wong.
Daiwa Institute of Research analyst Geoffrey Cheng cautioned that a better understanding of last month's performance requires data on laden and empty containers.
Although Shenzhen's container throughput in May was 13.4 percent higher than April, the number of laden containers handled was only three percent higher as there was a large increase in empty boxes.
A Citigroup report by Ally Ma estimates throughput at leading mainland ports declined last month from May, while outbound container freight rates have been falling.
Cargo News Asia
Login
.jpg)
