Shanghai July volume up 20pc to 2.57 million TEU

SHANGHAI handled 2.57 million TEU in July, up 20 per cent year on year and 21.4 per cent over the June figure, reported Xinhua.

The Shanghai Containerised Freight Index (SCFI) reached 1,213.08 in mid-August, up 0.33 per cent, close to the record high of 1,255.27 in 2004. This index was launched by Shanghai Shipping Exchange to show the market freight rates of individual routes.

The report said that the global surplus capacity of major carriers has fallen from 11.7 per cent at the outset of the year to two per cent. But an analyst from CITIC Securities said: "The third quarter is a traditionally peak season, so the trade volume will remain high, but freight rates will not have big changes." This is mainly because market players are uncertain whether the demand will continue to grow in the fourth quarter.

Figures from the Marine Department last week show Hong Kong port handled 2.1 million TEU in July, an increase of 9.7 per cent over the 1.9 million in July of last year.

Singapore's Maritime and Port Authority also reported a 13.5 per cent increase in container movement in July, having handled 2.5 million TEU compared to 2.2 million TEU in July of last year.
(Source:www.schednet.com)