China Handled Over 200 Million TEUs in the First Eight Months of 2023
🇨🇳 China Achieves Remarkable Milestone: Handling Over 200 Million TEUs in the First Eight Months of 2023.
China has achieved a remarkable feat by handling over 200 million TEUs (Twenty-foot Equivalent Units) in container throughput from January to August 2023, showcasing its robust maritime strength with a 4.8% year-on-year increase. During the same period, major Chinese ports experienced an impressive 8.4% surge in cargo volume, totaling a staggering 11.1 billion tons. Leading the charge in container volume, the Port of Shanghai, the world's largest and busiest container port, processed an astounding 32 million TEUs. The Port of Ningbo and Zhoushan followed closely with 24 million TEUs, while the Port of Shenzhen secured third place with 19 million TEUs. Despite some fluctuations in North American exports and the upcoming China National Day holiday, the industry remains resilient, with expectations of continued growth in the coming quarters.
Oil traders have cut their net long positions in Brent and WTI due to concerns over China's economy.