Beijing: China's box volumes continued to plunge in February, down 17% year-on-year according to Xinhua.
Nationwide container volume totalled 6.97 million teu in February, which represented a 22.5 per cent drop from January's 8.99 million teu.
Beijing is expected to report February trade data next week, but the 21st Century Business Herald newspaper last week cited an unnamed official as saying that China's exports and imports in February both dropped by more than 20 per cent.
China's exports in January fell 17.5 per cent and imports tumbled 43.1 per cent from year-earlier levels. The import figure is perhaps the more important one as it is growing imports that will eventually point to an export turnaround. Down by nearly half suggests demand for Chinese goods for the coming months will be severely down.
If confirmed, the February figures would mark an acceleration in the decline in China's exports and the fourth straight monthly decline for both exports and imports.
The total volume of coal passing through the country's ports in February was 15 million tonnes below year-ago levels, or a drop of 15.5 per cent, while the volume of metals was 8 per cent lower, Xinhua said.
Seatrade Asia Online has exclusively compiled a run down of the world's top twenty container ports which can be viewed here: http://www.seatradeasia-online.com//in_focus.php [09/03/09]
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