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China port association forecasts container volumes to decline in Q2

Article-China port association forecasts container volumes to decline in Q2

Guangzhou port (002).jpg
According to the China Port & Harbor Association, the container volume of eight major ports increased 6.2% last week.

However, the association warns risk on container volume decline due to the spread of COVID-19 global pandemic in the coming months.

Foreign-trading companies was accelerating the work and production resumption in China last week, and the major eight Chinese container ports throughput increased 6.2%, especially for Shenzhen port and Guangzhou port, both posted an increase of over 20%.

The three hub ports along Yangtze river, Nanjing, Wuhan and Chongqing maintained the similar container volumes comparing to the week before, however, the overall cargo volume declined 10.7%.

Following the spread of COVID-19 globally, many countries have announced stringent prevention and control measures. Half of top ten trading partners of China had announced countrywide restrictions to contain the outbreak, which will bring direct impacts on major container ports.

Based on initial estimation, the container throughput for the second quarter of this year will drop around 5%-10%.  

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