Container shipping volumes at the mainland's two largest ports plunged in December, with throughput in Shanghai dropping 6 per cent and in Shenzhen by 15.7 per cent, South China Morning Post reported.
Shenzhen's performance was actually worse than this indicates because of the number of containers carrying goods, or ‘laden’ containers. Last month, Shenzhen's outward-bound throughput of laden containers fell 23 per cent year-on-year, while its inward-bound throughput of laden containers decreased 27 per cent. By contrast, the throughput of empty containers passing through Shenzhen fell only 3 per cent, explained Sunny Ho Lap-kee, executive director of the Hong Kong Shippers' Council. "The deceleration has become very rapid and horrifying," he said.
Shenzhen's container throughput growth has been negative since last September, when the financial crisis struck, shrinking demand for Chinese goods.
Shanghai's container throughput grew 6.8 percent to 28m teu TEUs last year, compared with 20.5 per cent in 2007 and 21.4 per cent in 2006. Shanghai remains the world's second-busiest container port behind Singapore.
Shanghai International Port reported that its unaudited net profit in 2008 rose 27 per cent from 2007. However, the company missed its 2008 targets, reported Cargonews Asia, as a result of the global financial crisis and the consequent slowdown in China’s economy.