According to the China’s Department of Transport, China's port cargo throughput of domestic and foreign trade both grew in May, showing the effects of the country’s stimulus package and the rising domestic demand of commodities transportation. However, it is necessary to pay special attention to the surge in iron ore import.
Port cargo throughput has been in positive growth for three consecutive months. Driven by the accelerating imports of iron ore, coal, oil, foreign trade cargo throughput saw positive growth after March.
In May, port cargo throughput is expected to reach 546 million tons, an increase of 5 percent year on year. Among them, foreign trade cargo throughput is expected to reach 182 million tons, an increase of 4.7 percent year on year.
Domestic trade cargo throughput is expected to register at 364 million tons, an increase of 5.1 percent over the same month of last year. The port cargo throughput and foreign trade cargo throughput were up by 3.3 and 4.6 percentage points respectively from the previous month.
In May, container throughput is estimated at 9.75 million TEUs, declining 9.7 percent. The decrease was 4 percentage points lower than that in the previous month.
Unloading of imported iron ore in May will be likely to stand at 55.5 million tons, an increase of 24.6 percent year on year. The figure for the first five months will probably reach 258 million tons, which is 4 million tons more than the first half of last year. The increase has pushed iron ore stocks of major ports up to more than 60 million tons.
Port coal shipments are expected to stand at 40.5 million tons in May, declining 15.5 percent year on year. Unloading of coal (including domestic and foreign trade) will probably reach 49.2 million tons, an increase of 10.8 percent over the same period last year.
The volume of imported crude oil unloaded at ports is expected to rise by 5.1 percent year on year to 13.8 million tons.
By People's Daily Online
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