Tianjin Port handles 26million tonne of iron ore in 5 months

It is reported that Tianjin port completed iron ore throughput of 25.99 million tonnes in the first five months of 2008 up by 20% YoY. The port authority has taken many measures to address the recent excessive stocks due to a forecast on higher international iron ore prices, intensive imports and speculative holdings by domestic players and a lack of transportation capacity across the country since early this year.
As per report, these measures included well arranged shipment schedule, using rails to disperse excessive ore, raising warehouse charges, further expanding warehouses capacity and building new docks at Nanjiang. As a result, iron ore stocks at Tianjin port stood at normally 6.21 million tonnes as of June 15th 2008.