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December 11, 2009

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Double-digit rise in port cargo

SHANGHAI'S port cargo throughput last month grew by double digits for the first time in a year on signs that exports were starting to recover.

Cargo throughput totaled 30.7 million tons in November, a rise of 19.06 percent from the same period last year, said Shanghai International Port Group, the city's port operator.

But November's throughput fell from 31.2 million tons in October.

Container throughput totaled 2.2 million TEUs (twenty-foot equivalent units), down 3.33 percent from a year ago, the smallest monthly drop this year, according to statistics on the company's Website. But the throughput was a rise of 16 percent from 1.9 million TEUs in January this year.

Shanghai handled a total of 22.6 million TEUs in the first 11 months this year, a drop of 12.28 percent from the same period last year.

The port handled a total of 296 million tons of dry bulk goods in the same period, down 14 percent from a year ago.

"The monthly gain will continue in December as throughput fell significantly in the fourth quarter last year and the port operator will benefit from the central government's pledge to build Shanghai into a financial and shipping center by 2020," Northeast Securities wrote in a report.

Shanghai's port handled 28 million TEUs in 2008, a rise of 7 percent from the previous year.

The city operates the world's largest dry bulk goods port and the second-biggest container port globally.


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