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China Ports and Harbors Association unveiled on Wednesday a report which analyzed the effect of the novel corona virus on operations of major port companies during the previous week (February 24 to March 1).
According to the report, throughput of the eight major container hub ports increased by 4.7% from the previous month. Among them, throughput at the ports of Tianjin, Shanghai, Ningbo, Xiamen, and Shenzhen increased by more than 10% from the previous month.
The current rate of return to work for China's top 500 manufacturing companies is 97.08%, but the capacity utilization rate is about 60%. At present, foreign trade enterprises' production recovery is better than domestic trade.
In February, the container shipping business was most affected with container throughput of the eight major hub ports falling by 19.8%.
The resumption rate of freight terminal business is over 90%, and the conditions for collection and distribution of cargo continue to improve.
Favorable factors such as the recovery of market demand, free tolls on expressways and the recent decline in diesel market prices are stimulating factors. Statistics show that the average rate of resumption of truck drivers coming in and out of the container hub ports reaches 65%, and in Shanghai it exceeds 85%.
