News
Container throughput at Asia’s major port lost momentum amid slowing growth in global trade.
The Port of Shanghai handled 3.041 million TEUs of containers in October, which grew a minute 0.7% year on year. In the first 10 months (January-October), the Chinese port processed 30.436 million TEUs in total, which increased 3.2% from a year earlier.
Meanwhile, 2.497 million TEUs were moved to and from Singapore in October, which fell 16.0% and was a year-on-year decrease for eight months in a row. From January to October, accumulated container lifting at the Southeast Asian port was 26.003 million TEUs, which declined 7.5%.
At the Port of Hong Kong, container throughput plunged 12.8% to 1.592 million TEUs in October, indicating that the port suffered a year-on-year contraction for the 16th consecutive month. Hong Kong did not performed well in the first 10 months, either, handling 17.045 million TEUs, which decreased 8.7%.
As these figures show, the weakness in container throughput at Singapore and Hong Kong gave no signs of improvement as of October.
