Yangtze River Delta ports blame their sharp fall in container throughput growth on the US subprime mortgage crisis, a world economic slowdown and the ever strengthening yuan, Xinhua reported.
During the first half of this year, the Yangtze River ports handled 23.25 million TEU, up 16.6 per cent year on year, but the growth slid 13 per cent year on year. Foreign trade cargo handled by these ports rose 11.7 per cent to 344 million tonnes, but the growth is 6 per cent slower than in the first half of 2007.
Shanghai and Zhejiang provincial ports are hit hardest by the export fall. Ports in Zhejiang handled 5.48 million TEU in the first six months, an increase of 17.2 per cent, but 20 per cent slower than the growth recorded a year ago.
Shanghai container volume rose 10.4 per cent to 13.8 million TEU in the first six months. The growth was 13 per cent slower than in the same period last year. Its Yangshan port area experienced a leap of 42.8 per cent to 3.89 million TEU.
Shanghai port officials said the port faced fiercer competition from its neighbouring ports as they are taking more proactive measures to fight for cargo sources. Singapore's box volume in the first half of this year increased 11.5 per cent to 15 million TEU, 1.1 per cent faster than Shanghai's growth while Korea's Port of Busan handled 7.22 million TEU, up 10 per cent.
Industry experts estimated that export growth for the whole year might be slower than 20 per cent. China ports' annual cargo throughput growth is predicted to be around 15 per cent. Yangtze River Delta ports' container throughput is estimated to reach 48 million TEU with a growth of 16 per cent, much slower than last year's 25 per cent, while tonnage of the cargo they handled is expected to reach 280 million tonnes, a 10 per cent increase.
During the first half of this year, the Yangtze River ports handled 23.25 million TEU, up 16.6 per cent year on year, but the growth slid 13 per cent year on year. Foreign trade cargo handled by these ports rose 11.7 per cent to 344 million tonnes, but the growth is 6 per cent slower than in the first half of 2007.
Shanghai and Zhejiang provincial ports are hit hardest by the export fall. Ports in Zhejiang handled 5.48 million TEU in the first six months, an increase of 17.2 per cent, but 20 per cent slower than the growth recorded a year ago.
Shanghai container volume rose 10.4 per cent to 13.8 million TEU in the first six months. The growth was 13 per cent slower than in the same period last year. Its Yangshan port area experienced a leap of 42.8 per cent to 3.89 million TEU.
Shanghai port officials said the port faced fiercer competition from its neighbouring ports as they are taking more proactive measures to fight for cargo sources. Singapore's box volume in the first half of this year increased 11.5 per cent to 15 million TEU, 1.1 per cent faster than Shanghai's growth while Korea's Port of Busan handled 7.22 million TEU, up 10 per cent.
Industry experts estimated that export growth for the whole year might be slower than 20 per cent. China ports' annual cargo throughput growth is predicted to be around 15 per cent. Yangtze River Delta ports' container throughput is estimated to reach 48 million TEU with a growth of 16 per cent, much slower than last year's 25 per cent, while tonnage of the cargo they handled is expected to reach 280 million tonnes, a 10 per cent increase.