Initial ports data for September suggests cargo volumes have already started to drop ahead of the Chinese holidays in October, confirming the weak peak season trend this year. Container volumes fell month on month across the 4 main Far East ports that have published their September volumes so far at Shanghai, Singapore, Shenzhen and Hong Kong, with the falls ranging from -2.8% to -4.5%. Despite the reduced MoM volumes, they were mostly still ahead of the same period last year with Shenzhen in p
Chinese port volumes were surprisingly resilient in April, with overall container volumes dropping by just 0.2% YoY last month despite the extended lockdowns in Shanghai that brought down the main Chinese port’s throughput by 17.0% YoY.