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China's port container volume falls

China's port container volume falls
China's port container volume in February fell 17% year-on-year as the country's export sector slowed, reports said.

China's port container volume in February fell 17% year-on-year as the country's export sector slowed, reports said.

China's port container volume in February fell 17% year-on-year as the country's export sector slowed, reports said.

Last month, box volumes amounted to 6.97 million TEUs, representing a 22.5% fall from January's 8.99 million TEUs.

Collapsing consumer demand in the US and Europe has hit the Asian export markets.

China's exports in January fell 17.5% and imports plunged 43.1% from a year ago. January had marked the third consecutive monthly fall in both exports and imports.

Chinese ports were forecast to achieve a nationwide container throughput of 129 million TEUs this year, unchanged from 2008, according to shipping firm China Merchants.

If the forecast is right, it would be the first time that container volumes have remained the same, or fallen, year-on-year.

Recovery in container trades may not come any sooner, as the slowdown that had already spread to the car and bulk trades could hit tankers as well, according to COSCO Research.

www.TurkishMaritime.com.tr

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