Export growth is under pressure! Release of national port throughput from January to July
NO.1 National port throughput release from January to July
A few days ago, the Ministry of Transport released the national port cargo and container throughput data from January to July 2023. From January to July, the total cargo throughput of ports across the country was 9.62 billion tons, a year-on-year increase of 7.8%, of which domestic and foreign trade throughput increased by 9.2% and 8.8% respectively; container throughput was 180 million TEUs, a year-on-year increase of 4.5%.
Compared with the data of the previous month, the growth rate of domestic trade has increased, and the growth rate of exports has continued to be under pressure. According to data from the General Administration of Customs, my country's import and export in July this year was 482.92 billion US dollars, a decrease of 13.6%. Among them, exports were US1.76 billion, down 14.5%; imports were US1.16 billion, down 12.4%.
From January to July, the top 10 national port container throughput are: Shanghai Port (No. 1), Ningbo Zhoushan Port (No. 2), Qingdao Port (No. 3), Shenzhen Port (No. 4), Guangzhou Port (No. 5) ), Tianjin Port (No. 6), Xiamen Port (No. 7), Suzhou Port (No. 8), Beibu Gulf Port (No. 9), and Rizhao Port (No. 10).
NO.2 Delays at the Panama Canal lead shippers to consider alternative routes
As the threat of restrictions on the Panama Canal intensifies, shippers may need to find alternative routes to avoid potential cargo delays.
“Panama Canal delays have now reached 15 days or more and are likely to increase,” said Worldwide Logistics CEO, “The impact has not yet been fully felt by the importer/exporter community as these longer delays have just manifest."
The canal delays come amid a dry spring and an impending El Niño weather pattern, which has lowered water levels in nearby Gatun Lake. As a result, the Panama Canal implemented restrictions in June to conserve water by maintaining ship drafts until the next few months or until the weather changes significantly.
NO.3 SM Group may withdraw from the acquisition of HMM
HMM's peer SM Line's parent company, Samra Midas Group, has reversed plans to buy the South Korean government's stake in the country's flagship container shipping company.
It is reported that SM Group did not submit an offer to acquire HMM when the bidding deadline on August 21, although SM Group founder Woo Oh-hyun was the first to express interest in acquiring HMM.
HMM came under state control after it converted its debt with policy lender Korea Development Bank into equity in 2016. With HMM generating record profits in the midst of a covid-19 economic boom, the government has deemed it appropriate to wean HMM off taxpayer support.
NO.4 Florida will be hit by a severe hurricane
Florida is on the verge of a powerful hurricane, bringing life-threatening storm surges to the Tampa Bay area as Tropical Storm Idalia approaches hurricane strength in the Gulf of Mexico on Monday.
Idalia, which had sustained winds of 70 mph (113 kilometers per hour), just below hurricane force, made landfall on Wednesday after hitting western Cuba and was expected to reach Three levels of intensity at 120 mph.
Depending on how it actually operates, Idalia could cause as much as billion in damage, according to disaster modeling firm Enki Research.
NO.5 Mexican truck drivers strike, the number reaches 300,000
According to members of the Mexican Alliance of Transportation Organizations (AMOTAC), truck drivers across Mexico plan to hold large-scale strikes and protests on Tuesday (29th) and Wednesday (30th).
It is understood the two-day strike, which could include as many as 300,000 truck drivers, is set to start at 8am on Tuesday, with major highways blocked and potentially disrupting domestic and international freight in the country. AMOTAC says it represents more than 75% of the country's commercial freight, tourist and bus passenger fleet.
