Ocean Carrier Review
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Shanghai Port container volume up 11.4% in January
Shanghai Port saw its container volume rise 11.4 percent in January from a year earlier, its fastest growth in almost a year, data issued by the port’s operator showed.Container throughput reached 2.92 million twenty-foot equivalent units (TEUs), up from 2.76 million in December, marking the highest level since at least 2007 according to port data.
The numbers, which are closely watched by investors for more clues on the strength and sustainability on China’s economic recovery, come ahead of China’s January trade data, due on Friday.
Economists polled by Reuters expect annual exports to grow 17 percent in January from a year ago, which would be the strongest in 11 months, while annual imports are seen to have risen 23.3 percent last month, up from December’s 6 percent rise.
The 11.4 percent growth in container volume, the fastest since February 2012, was boosted by the timing of the Lunar New Year holiday, which fell in January last year, but only starts in February this year.
The year-on-year increase for January compared with a rise of 3.9 percent a month earlier.
This marked the fifth straight month of gains, further positive news after 2012’s record haul of 32.5 million TEUs, up from 31.7 million in 2011.
Shanghai overtook Singapore to be the world’s busiest container port in 2010 and surpassed 30 million TEUs in 2011, which set a record high at the time.
It has maintained pole position, finishing 2012 ahead of Singapore, which posted 31.6 million TEUs, according to data from the Maritime and Port Authority of Singapore. (Reuters)
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