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Guangzhou port results paint gloomy second half picture

Guangzhou port results paint gloomy second half picture

Hong Kong: Guangzhou port reported a cargo throughput of 201 million tonnes in the first half, up 11.7 percent from a year earlier.
The major port handled 6.07 million teu, up 16.8 percent from a year ago, the Guangzhou Port Authority said Saturday.
The cargo throughput was 8.1 percent higher than in the same period of 2008, that is, before the strike of the global financial crisis.
The port, however, was expected to see slower growth in the second half due to big declines in demand for coal, iron ore and steel products, it said.
In June, the port bore the brunt of slowing global trade. Cargo throughput was down 1.1 percent year on year to 34.1 million tonnes.  [12/07/10]

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