First half of 2016:

Overall Throughput Plunged in The Biggest Port Operator, China

Qinhuangdao Port Co, one of the biggest port operators in China, reported first half results that more or less reflected the general state of China's economy with overall volumes down 18% in the first half of the year.

News ID: 66417

Date: 12 July 2016 - 09:14

According to MANA, Qinhuangdao Port Co, one of the biggest port operators in China, reported first half results that more or less reflected the general state of China's economy with overall volumes down 18% in the first half of the year.

Although container volumes were up 19.7% to 527,693 teu from 441,039 teu previously sharp falls in bulk cargo tonnage meant overall throughput was significantly lower.

Dry bulk cargo throughput fell 22.4% to 132.8m tonnes, the company said in a stock market announcement. Tellingly, coal throughput slid 34.7% to 75.1m tonnes while oil and liquefied chemicals throughput plunged 58% to 1.57m tonnes. Reduced cost of domestic coal production in China has resulted in a sharp drop in coal imports into the country.

Throughput of metal ore cargoes was almost flat, rising just 2.6% to 57.7m tonnes from 56.2m tonnes previously.

General and other cargoes, which comprise grain, fertilizer and others more than doubled to 10.5m tonnes from 5.2m tonnes previously.