Shanghai drives China’s volumes moving 15 million TEU so far

China ports container volume rises 4.8% from January to April of 2023,Ningbo Containerized Freight Index decrease in May 2023.

According to recently released data, China’s ports saw an increase in container volume from January to April 2023 reaching 95.4 million TEU.

The figure stands for a year-on-year increase of 4.8 per cent.

From January to April of 2023, the cargo volume of Chinese ports was 5.2 billion tonnes, a year-on-year increase of 7.6 per cent.

This comes two months after it was reported that the container throughput of Chinese ports rose to 69.7 million TEU.

The chart below shows the cargo throughput and container throughput data of the 12 major ports in China.

Source: Ministry of Transport of the People’s Republic of China

The Port of Shanghai, which secured its spot as the world’s busiest port with 43.19 million TEU moved in 2022, witnessed and increase in container volumes of 30.2 year-over-year (YoY), and a slight surge of nearly 1 per cent from January to April of this year.

The port moved an impressive 15 million TEU so far in 2023.

The Port of Ningbo-Zhoushan’s TEU volumes continue to rise each month after achieving a container throughput of 1.05 million TEU in the first 10 days of January 2023, now standing at 3.13 million TEU since the beginning of the year.

READ: Top 10 Ports in China 2022

Regarding container freight rates, the average value of the Ningbo Container Freight index (NCFI) in May was quoted 702.9 points, having registered a decrease of 2.7 per cent compared to April.

From Ningbo Zhoushan Port to the US West coastal and US East coastal routes, most box liners pushed up the freight rate in June, and the freight rate rebounded significantly.

The increase in the US West route was even more significant because the freight rate was previously lower.

According to data provided by Ningbo Shipping Exchange, freight rates from Ningbo to North America remained stable in April 2023, while the rates for the US West Coast and US East coast routes saw a slight decline that same month.

During the first two months of 2023, container throughput at ports in China experienced a YoY rise, while Shanghai’s growth rate decreased from its previous record levels.

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