Chinese ports have handled 220.5 million TEU from January to August, representing an 8.2 per cent increase year-on-year (YoY).
In August, the Port of Shanghai’s container throughput climbed by 7.9 per cent YoY to 4.51 million TEU; in the first eight months of 2024, the port has already moved an impressive 34.75 million TEU.
The Ningbo Zhoushan Port recorded a 12.9 per cent YoY increase to 3.6 million TEU last month, while the Port of Shenzhen witnessed the biggest YoY growth, with a 14.5 per cent increase to 3.15 million.
In terms of container freight rates, the average value of the Ningbo Containerized Freight Index (NCFI) was 1763.9 points in September 2024, down 26.0 per cent month-on-month (MoM) and up 172.5 per cent YoY.
One of the 21 routes’ freight indexes climbed MoM, while the freight indexes of the other 20 routes decreased.
In July, A.P. Moller-Maersk (Maersk) inaugurated a new ocean shipping route between China and Bangladesh to address increasing trade demand, particularly in the retail sector.