According to the statistics released by China Ports and Harbours Association, the container cargo volume is continuing to recover in early June but is still trapped with low-growth. With the production resumption in overseas markets, the cargo volume is expected to improve in July.
The crude oil shipments at major coastal ports increased 13.3% year-on-year as oil prices remained low. The growth rate of Qingdao port, Yantai port and Dalian port exceeded 10%, however, the storage capacity of several ports is close to saturation.
The metal ore shipments at major ports increased 11.2% year-on-year while inventory volume declined 14.2%.
The port business along Yangtze river stopped growing in early June. The cargo throughput of three major ports, Nanjing, Wuhan and Chongqing, declined 3.9% while the container throughput declined 11.8% year-on-year.
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