China's major ports see weekly throughput rise: CPHA

BEIJING - The throughput of major ports in China continued to increase last week as economic activities keep picking up pace, the China Ports and Harbours Association (CPHA) said on Wednesday.

During the week from March 9 to 15, the throughput of key ports rose 1.1 percent from the previous week and port construction and passenger transport services, which were severely affected by the epidemic, have resumed normal operations, according to the CPHA.

Last week, the container throughput of the eight major coastal foreign trade hub ports rose 2.6 percent week on week. Half of the ports maintained week-on-week growth, with Dalian and Ningbo recording more than 10 percent growth.

The daily coal consumption of China's six leading coastal power plants reached 556,000 tons last week, up 6 percent from the previous week, and the daily coal shipping volume of the Daqin Railway, a major coal railway in northern China, hit 1 million tons last week, up 20 percent from the average in February.

As crude oil traders adjusted their purchase plans due to the epidemic, the crude oil loading and unloading at major Chinese ports dropped 10.9 percent last week from the previous week. But with the tumbling global oil prices, Chinese companies are expected to import more crude oil in the following weeks, according to the CPHA.

Last week, the iron ore throughput shrank 7.7 percent week on week in four leading ports including Ningbo Zhoushan, Tianjin, Qingdao and Rizhao, and the inventory of iron ore at major ports stood at 119 million tons on March 13, according to the CPHA.

However, with the demand for steel and iron ore recovering, the daily amount of iron ore leaving major ports reached 3.01 million tons last week, recovering to the level at the end of 2019, and the port inventory has been on the decline.