Chinese box throughput continues to fall in February

CHINA's port container handling volume recorded a 17 per cent decline year on year to total 6.97 million TEU in February, expanding the drop in January as the financial crisis continued to damage exports, Xinhua reported

The figure was also down 22.5 per cent from January, which saw 8.99 million TEU, down 13.3 per cent year on year and 12 per cent from December of 2008.

A report released by China International Capital Corporation showed that recovery was not yet in sight, as overseas demand would shrink further. It said the decline in February widened despite of three more working days compared with the same month of 2008.

China's export volume decreased 17.5 per cent year on year to US$90.45 billion in January, while its imports tumbled 43.1 per cent from year previous levels.

Source: Portnews