China No. 1 in Shipping Industry
sofreight.com sofreight.com 2023-05-23 14:56:02
The number of berths for production at domestic ports increased to 31,968. Shipping fleets have also expanded. China had 179,200 transportation ships as of the end of last year, an increase of 0.5 per cent year-on-year, the report said. China's shipping industry is grappling with a recession caused by waning demand and higher costs, and many small businesses are facing bankruptcy, according to the Ministry of Transport. In the first six months, turnover at ports increased 7.2 per cent year-on-year to 4.74 billion tons, 6.1 per centage points lower year-on-year.