The container throughput of Chinese ports reached 76.7 million TEU in the first quarter of 2024, marking a 10 per cent increase compared to the previous year.
Leading the charge, Shanghai Port processed 12.45 million TEU, marking an 8.6 per cent year-on-year (YoY) rise. Not far behind, Ningbo Zhoushan Port handled 9.14 million TEU, reflecting an 11.7 per cent increase.
Beibu Gulf Port stood out with a remarkable YoY growth rate of 20.4 per cent, bringing its total TEU count for the first three months of the year to 1.94 million TEU.
In terms of container freight rates, the average value of the Ningbo Containerized Freight Index (NCFI) in April 2024 was 1304.9 points, indicating a 1.3 per cent increase compared to the previous month and an 80.5 per cent increase compared to the previous year.
Out of the 21 routes, the freight index of 16 routes increased month-on-month, while the freight index of five routes decreased.
In March, Container xChange released its latest China market update, shedding light on the current container price trends in China.