China's box decline in April more severe than March

Hong Kong: Container throughput of China's ports dropped deeply in April 2009, contrary to the moderate decline in March.

Port of Shanghai handled 2m teu in April, down 20% from a year earlier, far higher than the 7%-decrease in the previous month, while Shenzhen, another main container port in China, would have likely seen a deeper plunge, Citigroup said in a report.

Citigroup maintains its prediction that the container throughput of China's ports in 2009 will drop 10% year on year. [06/05/09]

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