China Seaport Association forecasts container volumes will fall in the second quarter

According to the China Seaport Association, container volume of eight major ports increased 6.2% last week.

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

Foreign trade companies stepped up the process of resuming work and production in China last week, and eight of China's major container ports increased by 6.2%, especially for Shenzhen ports and ports. Guangzhou, both increased more than 20%.

The three central ports along the Yangtze, Nanjing, Wuhan and Chongqing Rivers maintain similar container volumes from the previous week, however, the total cargo volume decreased by 10.7%.

After the spread of COVID-19 across the globe, many countries have announced strict preventive and control measures. Half of China's top ten trading partners have declared nationwide restrictions to contain the disease, which will have a direct impact on major container ports.

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

Phaata (Source Seatrade Maritime News)

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