SIMIC

From January to September of 2022, the cargo volume of Chinese ports was 11,554.5 million tonnes, a year-on-year increase of 0.1 per cent, according to London's Port Technology.

Shanghai remained the best performing port, with a traffic of 34.8 million TEU from January to July; whilst Beibu Gulf Port registered the highest growth rate, increasing 19 per cent from the same period last year.

The average value of the Ningbo Container Freight index (NCFI) in October was 1390.9 points, with a significant decrease of 20.8 per cent compared to last month.

This was due to an unstable supply and demand relationship and flat transportation demand. Chinese ports have seen an overall dip in import and export ocean shipment volume over recent weeks following the imposition of Covid-19 lockdowns.

Ningbo-Zhoushan has taken the largest hit, with volume down 29 per cent compared to the start of October.