Chinese Ports See Robust Cargo Traffic Growth in 2024
Chinese ports have witnessed a surge in container traffic, handling a remarkable 276.4 million TEUs from January to September 2024, marking a 7.6% year-on-year increase. This positive momentum continued into October, with Shanghai Port recording a throughput of 4.15 million TEUs, representing a 3.8% year-on-year rise, and pushing its total for the year to a substantial 43.25 million TEUs.
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The Port of Ningbo Zhoushan also experienced significant growth in October, handling 3.31 million TEUs, a 12.9% increase compared to the same period last year. For the first ten months of 2024, the ranking of TEU throughput showed Shenzhen leading the way with a 14.9% year-on-year increase, resulting in 27.7 million TEUs handled. Conversely, Xiamen was the only port to report a decline, with a 4.0% year-on-year slowdown, bringing its total to 7.4 million TEUs.
Amidst this growth, the Ningbo Containerized Freight Index (NCFI) reflected monthly fluctuations, indicating a decrease of 8.4% in November compared to October. However, on a year-over-year basis, the index showed a substantial increase of 137.8%. This trend revealed fluctuations in 21 routes, but stronger performance overall, with 17 routes marking increased rates, while only 4 experienced declines.
This robust development highlights the ongoing growth in international trade.
Meanwhile, Dalian Shipbuilding Industry Co., Ltd. achieved a significant milestone last month, delivering China’s first self-developed liquefied natural gas (LNG) dual-fuel container vessel. The delivery signify a commitment to reducing the environmental impact of maritime transportation.
Which specific Chinese ports are experiencing the most significant growth and what factors are contributing to their success?
## Chinese Ports Riding the Wave of Cargo Traffic Surge
**Host:** Welcome back to “Global Trade Talk”. Today, we’re discussing the impressive growth in container traffic at Chinese ports. Joining us is [Guest Name], a leading expert on the Chinese port industry. Welcome to the show.
**Guest:** Thank you for having me.
**Host:** The numbers are certainly striking. Chinese ports handled a staggering 276.4 million TEUs from January to September, a 7.6% increase year-on-year. What’s driving this surge in activity?
**Guest:** Several factors are contributing to this robust growth. The Chinese economy has shown resilience, with strong manufacturing and export sectors. Furthermore, the government’s Belt and Road initiative continues to facilitate trade and investment along the Eurasian corridor, fueling cargo movements through Chinese ports.
**Host:** We’re seeing some individual ports really thriving. Shenzhen leads the pack with a 14.9% year-on-year increase. Shanghai and Ningbo Zhoushan are also recording significant growth. What’s behind these standout performances?
**Guest:** Shenzhen’s proximity to the Pearl River Delta, a major manufacturing hub, gives it a natural advantage. Shanghai, as China’s busiest port, continues to benefit from its extensive infrastructure and connections to global trade routes. Ningbo Zhoushan’s growth is partly attributed to its strategic location and its increasing focus on developing container shipping services.
**Host:** Interestingly, Xiamen, another major port, reported a decline in traffic. What can you tell us about that?
**Guest:** There might be a few factors at play here. It’s possible that Xiamen is facing increased competition from nearby ports or experiencing temporary challenges related to specific industries it serves. However, it’s important to note that fluctuations are normal in the dynamic landscape of global trade.
**Host:** Looking ahead, what trends do you anticipate in the Chinese port sector?
**Guest:** I expect the overall growth trajectory to continue, driven by the continued expansion of the Chinese economy and the ongoing development of global trade networks. Investments in automation, digitalization, and sustainability will play a key role in enhancing efficiency and capacity at Chinese ports.
**Host:** Thank you for sharing your insights, [Guest Name]. It will be fascinating to see how the Chinese port sector continues to evolve in the coming years.
