Beijing expects China's mid-year freight growth slowdown to continue
2012 04 30
- Details
TRANSPORT Ministry spokesman He Jonahing predicts a sector growth slowdown to happen in the first half of the year, Xinhua reports.
Transport Ministry statistics show China's first quarter road cargo movement increased 13.6 per cent to 7.05 billion tonnes, 0.9 per cent slower year on year. Volume increased 14.9 per cent to 1,261 billion tonnes per kilometre - much the same as last year.
Waterway cargo traffic grew 8.5 per cent to 1.01 billion tonnes. The increase is 5.7 per cent slower. Again volume increased 11.3 per cent to 1.8 billion tonnes per kilometre, but 2.8 per cent slower growth than last year.
Chinese lifted 2.24 billion tonnes of cargo, up 6.5 per cent, but showing 8.9 per cent slower growth than last year's first quarter. Foreign trade cargo throughput climbed 12.6 per cent to 730 million tonnes. Container throughput grew 8.4 per cent to 39.58 million TEU.
Mr He expects an increase of three per cent in the world's dry bulk cargo demand this year, but capacity will outgrow demand with an increase of 12 per cent. Carriers will continue to experience reduced demand, rising costs, falling rates, widening losses, fiercer competition and heavier pressure.
In the first three months, China's road and waterway traffic fixed assets investment dropped 7.7 per cent to CNY185.4 billion (US$29.4 billion).
Source Shipping Gazette - Daily Shipping News
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