It is reported that after the global financial crisis, Chinese port’s throughput growth keeps going down in October. According to China Water Transport Department’s report, October cargo throughput of China's above scale ports is estimated at 0.47 b tonnes up by 6% YoY a rate lower 2.1 percentage points from last month, registering three straight month decline and hitting the lowest level of this year.
Related source from China Water Transport Department analyzed that the general growth slide is due to demand shrink at home and abroad amid the world financial crisis and Baltic Dry Index has plummeted below 1000 points. Due to shrinking orders at Christmas in EU and US, the traditional hot container export season has not come. As a result the container thru put through China’s ports is estimated at 10.65 million standardizing boxes in October up by 8.2% YoY. The growth rate is 8 percentage points lowers from last Oct and for two straight months below 10%.
Domestic steel prices have fallen about 30% since the 3rd quarter, and part of mills were forced to cut back or suspend production. In October, the unloading imported iron ore is expected at 38.5 million tonnes up by 16.5% YoY, the lowest level of this year. Recently, ore stockpiles in China’s ports reach over 70 million tonnes, still in high level, with most of them are contract ore and little impacted by the market volatile, therefore, the iron ore import growth falls slightly from the previous month.
In October, the total coal shipment via China ports is anticipated at 38 m tons, down 3.1% YoY including 35.9 million tonnes of home trades up by 2.8% YoY and 2.1 million tonnes of international trades, down 51% YoY. For China’s slowing economic growth, the demand for thermal coal in South China drops remarkably and the ports shipment quantity of coal suffers negative increase for the first time, down 7.6 percentage points compared with last month’s growth rate. Winter storage is about to start, whereas there is no signs of rising demands for thermal coal. Meanwhile, coal export again hits record low in this year due to a series factors like scant demands, diving coal price and suspensive export quota.
Related source from China Water Transport Department analyzed that the general growth slide is due to demand shrink at home and abroad amid the world financial crisis and Baltic Dry Index has plummeted below 1000 points. Due to shrinking orders at Christmas in EU and US, the traditional hot container export season has not come. As a result the container thru put through China’s ports is estimated at 10.65 million standardizing boxes in October up by 8.2% YoY. The growth rate is 8 percentage points lowers from last Oct and for two straight months below 10%.
Domestic steel prices have fallen about 30% since the 3rd quarter, and part of mills were forced to cut back or suspend production. In October, the unloading imported iron ore is expected at 38.5 million tonnes up by 16.5% YoY, the lowest level of this year. Recently, ore stockpiles in China’s ports reach over 70 million tonnes, still in high level, with most of them are contract ore and little impacted by the market volatile, therefore, the iron ore import growth falls slightly from the previous month.
In October, the total coal shipment via China ports is anticipated at 38 m tons, down 3.1% YoY including 35.9 million tonnes of home trades up by 2.8% YoY and 2.1 million tonnes of international trades, down 51% YoY. For China’s slowing economic growth, the demand for thermal coal in South China drops remarkably and the ports shipment quantity of coal suffers negative increase for the first time, down 7.6 percentage points compared with last month’s growth rate. Winter storage is about to start, whereas there is no signs of rising demands for thermal coal. Meanwhile, coal export again hits record low in this year due to a series factors like scant demands, diving coal price and suspensive export quota.