Shanghai set to break 40 million TEU mark again this year and other Chinese ports performing well

Shanghai set to break 40 million TEU mark again this year and other Chinese ports performing well

The Port of Shanghai volume increased 4.7 percent in September, year on year to four million TEU’s and in the first nine months of this year, having handled a total of 36.1 million TEU, inching closer to last year’s 43 million TEU all-time record.

The Port of Qingdao also recorded a strong performance witnessing a 12.1 per cent year-on-year increase, totaling 2.4 million TEU in September.

Likewise the Port of Ningbo-Zhou Shan also performed well in September with a 21.6 percent growth. The port attained a container throughput of 33.35 million TEU in 2022. Shipping demand from Ningbo in October to the North American markets was however so low that most carriers were forced to reduce space availability by cancelling voyages.

The average freight cost of a TEU and an FEU from Ningbo to Los Angeles and New York was US$1,683 (down 12 per cent) and $2,174 (down 14.8 per cent) month to month year on year.