Qingdao Port sees strong start to 2010

Qingdao Port, China's second-largest foreign trade port, said it expects a steady rebound in volume in the first half of the year, although throughput has yet to return to pre-financial crisis levels.

The port's cargo throughout was up nine percent in January and February from a year earlier, while container throughout was up six percent, chairman Chang Dechuan told Reuters.

Chang added that he expected overall port volume to be strong in the first half, although levels would remain below those reached before the global recession.

He said iron ore stocks at the port stood at 10 million tonnes, down from their peak, on strong demand from steel mills.

Qingdao Port is a bellwether not only for the health of Chinese exports, but also for the state of Chinese industrial demand. It is the nation's largest iron ore and crude oil port.

(Source: Cargo News Asia)