SIMIC

Katherine Si | Oct 28, 2022

Export container volume declined 9.4% while the domestic volume also dropped 0.9%. Over 20% services between Asia and North America had been suspended during September and October as container lines attempted to stem the steep fall in spot container freight rates, as well as manage capacity during China’s Golden Week Holiday at the start of October.

Cargo throughput at major coastal hub ports increased 8.1%. The international trade cargo throughput grew 2.5% while domestic volume up 24.44%.

Related: Lines stick to blanking strategy as spot rates continue to slide

Crude oil shipments at major coastal ports slightly increased 0.3% year-on-year. Volume growth at the port of Ningbo-Zhoushan and Rizhao exceeded 13%.

Metal ore shipments at major Chinese ports increased 1.9% while the port inventory grew 12.95%.

Related: Lines seize Golden Week opportunity for blank sailings

Cargo throughput at three major Yangtze river ports, Nanjing, Wuhan and Chongqing dropped 2.1% while container volume increased 1.4% year-on-year in early October