Major Chinese ports, including Shenzhen and Shanghai, saw volumes continue to deteriorate in February as the country sees no sign of export recovery.
Big brother port Shanghai recorded another double-digit shrinkage in volumes in February. The world’s second-busiest boxport handled 1.5m teu in February and 1.9m teu in January this year, representing year-on-year declines of 19% and 17% compared to the same months last year, according to Shanghai International Port Group.
Meanwhile, neighbouring port Ningbo port even saw throughput dive deeper in February.
Ningbo port said it handled 1.4m teu in the first two months of this year, down 14% from the same period last year. The decline in monthly box volumes has widened from 5% in January to 23% in February.
Shenzhen port, the nation’s second-largest container port, also saw box volumes fall by 21% in the first two months of this year.
On Thursday, Shenzhen-listed Shenzhen Chiwan Wharf Holdings which operates nine berths in west Shenzhen, with an annual capacity of about 6m teu, said volume shrinkage has worsened in February.
The company recorded a 24% decline in throughput in January and 40% fall in February. It handled 682,000 teu in the first two months of 2009.
SCWH operates nine of the 34 container berths in Shenzhen city. The 34 berths include nine berths in Chiwan and Mawan, eight berths in Shekou, 14 in Yantian and three in the relatively new port area of Dachan Bay. February port data from other operators are not yet available.
Industry analyst Ally Ma from Citigroup said she feels the magnitude of deterioration was understated by flooding empty boxes and that the volume of heavy boxes at Shenzhen dived more sharply by 33% in January and February. She maintained her negative view on the sector.
Ms Ma also noted the widening divergence between port activities and the PMI (Purchasing Managers Index)-export order index during the last three months.
Big brother port Shanghai recorded another double-digit shrinkage in volumes in February. The world’s second-busiest boxport handled 1.5m teu in February and 1.9m teu in January this year, representing year-on-year declines of 19% and 17% compared to the same months last year, according to Shanghai International Port Group.
Meanwhile, neighbouring port Ningbo port even saw throughput dive deeper in February.
Ningbo port said it handled 1.4m teu in the first two months of this year, down 14% from the same period last year. The decline in monthly box volumes has widened from 5% in January to 23% in February.
Shenzhen port, the nation’s second-largest container port, also saw box volumes fall by 21% in the first two months of this year.
On Thursday, Shenzhen-listed Shenzhen Chiwan Wharf Holdings which operates nine berths in west Shenzhen, with an annual capacity of about 6m teu, said volume shrinkage has worsened in February.
The company recorded a 24% decline in throughput in January and 40% fall in February. It handled 682,000 teu in the first two months of 2009.
SCWH operates nine of the 34 container berths in Shenzhen city. The 34 berths include nine berths in Chiwan and Mawan, eight berths in Shekou, 14 in Yantian and three in the relatively new port area of Dachan Bay. February port data from other operators are not yet available.
Industry analyst Ally Ma from Citigroup said she feels the magnitude of deterioration was understated by flooding empty boxes and that the volume of heavy boxes at Shenzhen dived more sharply by 33% in January and February. She maintained her negative view on the sector.
Ms Ma also noted the widening divergence between port activities and the PMI (Purchasing Managers Index)-export order index during the last three months.