Logistics

China's Ports Record Surge: Q1 2024 Analysis

China's Ports Record Surge: Q1 2024 Analysis

Sedat Onat
China's Ports Record Surge: Q1 2024 Analysis

In the first quarter of 2024, container volumes at China's ports increased 10 percent year-over-year, reaching 76.7 million TEU. Shanghai Port led the way during this period, handling 12.45 million TEU with an annual growth rate of 8.6 percent. Ningbo Zhoushan Port followed with 9.14 million TEU, posting growth of 11.7 percent. Beibu Gulf Port recorded a notable surge of 20.4 percent year-over-year, reaching 1.94 million TEU for the first three months.

\n


\n

In April 2024, the Ningbo Containerized Freight Index (NCFI) averaged 1,304.9 points. This figure represented a 1.3 percent increase from the previous month and an 80.5 percent increase from the prior year. Of the 21 trade routes, the freight index rose monthly on 16 routes, while five routes experienced declines.

\n


\n
Key Highlights
\n
    \n

  1. Total container volumes at China's ports increased 10 percent year-over-year in Q1 2024 to reach 76.7 million TEU.

    2. \n

  2. Shanghai Port recorded 12.45 million TEU with annual growth of 8.6 percent.

    3. \n

  3. Ningbo Zhoushan and Beibu Gulf ports posted significant increases of 9.14 million and 1.94 million TEU, respectively.

    4. \n

  4. The NCFI value for April 2024 increased 80.5 percent year-over-year to 1,304.9 points.

    5. \n

  5. Of the 21 freight routes, 16 saw monthly freight index increases, while 5 experienced declines.

    6. \n
\n


\n


\n

News Link: https://www.porttechnology.org/news/shanghai-boosts-12-5-million-teu-in-q1/

Comments