Shanghai Port container throughput up 2.8 pct y/y in May
Shanghai Port, the world's busiest container port, saw its container volume rise 2.8 percent in May from a year earlier, continuing the modest growth seen in the past few months, data issued by the port's operator showed on Wednesday, , Reuters reports.
Container throughput reached 2.83 million twenty-foot equivalent units (TEUs), the most in 10 months.
The growth rate was up just slightly from April's 2.5 percent, potentially offering an advance glimpse into how China's trade in May fared.
According to economists polled by Reuters, trade data due to be released on Sunday is expected to show export growth rose to 6.8 percent in May, compared with 4.9 percent in April. Import growth is forecast to rise to 5.0 percent from 0.3 percent one month earlier.
Shanghai Port saw its container throughput grow 9.2 percent in 2011 to 31.7 million TEUs, becoming the world's first port to surpass the 30 million TEU threshold.
However, Zhuge Yujie, president of Shanghai International Port (Group) Co Ltd, the port's operator, warned last month that growth would slow this year to 2-3 percent as the economy slows.