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HK July throughput falls 7.1%, fourth straight drop

HK July throughput falls 7.1%, fourth straight drop
Hong Kong: In a strong sign that the southern China export-based economy is moderating, Hong Kong's container figures continue to slow, with July's 7.1% year-on-year drop in overall throughput to 2.07m teu being the fourth consecutive month of declines.

The main Kwai-Tsing terminals saw a small 1.2% fall to 1.54m teu while at the non-Kwai-Tsing terminals the drop more dramatic, falling by a fifth to just 530,000 teu from 670,000 teu in the same month last year.

Sequentially however, throughput rose 7.4% overall from 1.93m teu in June. And traffic rose 8.6% from 1.42m teu and 3.9% from 510,000 teu in June at the Kwai-Tsing and non-Kwai-Tsing terminals respectively. year-to-date, volumes are still trailing last year's, with the 13.72m teu handled so far coming in 2.6% below the figure up to the same month last year.

Meanwhile it's the same story at terminal operator Cosco Pacific with its Bohai Rim ports showing strong 17.3% growth while the Yangtze River Delta ports had more modest 8.1% growth and the Pearl River Delta and Southeast Coast ports actually posted a decline of 1.4%.