China Shipping Group volumes rise 18%.
SHIPPING giant China Shipping Group reported a better-than-expected 18.1% increase in cargo shipping volume in January.
China Shipping Group said the company"s fleet carried 31.5m tonnes of cargo last month, up 18.1% against 26.6m tonnes in the same period last year. Meanwhile, container volumes transported rose 32.2% year on year to 890,000 teu.
The company said January container transportation volume was 16% higher than it expected and it had completed more than 8.4% of its full-year transportation target.
The rebound came after the group"s listed arm China Shipping Development suffered a 4.5% decline in total shipping volume to 149m tonnes of cargos last year.
A shipping analyst said the increase in shipping volume for China Shipping Group last month was partly due to the snowstorm in Northern China, which considerably drove up the volume of coal transportation between power plants and coal ports in northern China. ?For instance, cargo throughput at China"s largest coal hub, Qinhuangdao, soared 32% to 21.8m tonnes in January. As a major Chinese coal carrier, China Shipping Group significantly benefited from the pent-up energy demand,? the analyst said.
China Shipping Group president Li Shaode previously said that the group was planning to step up its efforts to ensure the continuity of coal supplies for power stations. The group is also considering re-routing ships on international voyages to undertake domestic coal shipments.