Chinese Port Association reviewed last week (24/Feb-1/March) operation across the country, and have the following
1) Container volume is increasing
The eight major container ports volume got 4.7% increase wow. The growth of Shanghai, Tianjin, Ningbo, Xiamen and Shenzhen were more than 10% wow;
It also says the throughput of the 8 container ports in February dropped by 19.8%, this is the first quasi-official stats reported.
Top 500 manufacturing companies are 97.08% back to operation, but due to shortage of labour, only 60% production efficiency was achieved, the situation will be getting better in the next weeks.
2) Coal transport in growing
The upstream mining facilities did not get a satisfactory recovery due to shortage of workers.
The 6 major power plants daily consumption ( leading economic indicator) rose to 420,000 tons, still less than normal situation;
Coal export from Qinhuangdao and Huanghua rose by 8.7% wow;
The above two port throughput in February declined by 8.7%;
3) Crude, LNG and products
Demand for gasoline and diesel started to pick up last week.
Teapot refineries in Shandong were 48% back to operation, which kept improving.
Crude stocks at ports started to reduce as distribution eased.
Last week, crude/LNG/products throughput saw 13.3% increase wow;
4) Ore
Four major ports, Ningbo, Qingdao, Rizhao and Tianjin imports grow by 24.2% wow;
Another source says spot iron ore prices at Chinese ports and Dalian Commodity Futures are soaring up due to short loaded volumes in Brasil in February.
5) Yangtze River
Throughput from Nanjing, Wuhan and Chongqing are good enough, 12.1% wow;
Container shipping still looks ugly;
Positive things are, 65-85% truck drivers are back, exemption of motorway toll charge, cut or reduction of levies, fees, charges, which all would work on the normalization of the supply chain.
Source:Simon Young
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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