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Qinhuangdao Port group sees overall throughput fall 18% in H1

Author: Posttime:2016-07-12 08:28:34

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.
Overall throughput for the three ports under Qinhuangdao dropped 18.4% to 151.6m tonnes from 185.9m tonnes in the first half of 2015.
Among the three ports, Qinhuangdao Port saw throughput fall 32.4% to 84.6m tonnes, Caofeidian Port saw throughput fall 12.5% to 36.6m tonnes while cargo volume at Huanghua Port rose 60.6%to 30.4m tonnes although this was from the lowest base among the three of 18.9m tonnes in the previous corresponding period.
source:www.seatrade-maritime.com
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