CHINESE port throughput increased 5.2 per cent in the first nine month year on year to hit 230.7 million TEU, reports London's Port Technology.
The Port of Shanghai volume increased of 4.7 per cent in September year on year to four million TEU; over the course of the first nine months of this year, having also handled 36.1 million TEU, inching closer to last year's 43 million TEU all-time record.
The Port of Qingdao also recorded a strong performance witnessing a 12.1 per cent year-on-year increase, totaling 2.4 million TEU in September.
The Port of Ningbo-Zhou Shan also performed well in September with a 21.6 per cent growth. The port attained a container throughput of 33.35 million TEU in 2022.
But shipping demand from Ningbo in October to the North American markets was so low that most carriers were forced to reduce space availability by cancelling voyages.
The average freight cost of a TEU and an FEU from Ningbo to Los Angeles and New York was US$1,683 (down 12 per cent) and $2,174 (down 14.8 per cent) month to month year on year.
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