Cargo Volumes On the Rise at World’s Top Ports

Cargo throughput at major ports globally maintained an upward trend in the third quarter of this year, according to the Global Port Development Report issued by Shanghai International Shipping Institute (SISI).

As informed, cargo volumes at major ports in the world recorded a growth rate of 6.4 percent during the three-month period, compared to the same period a year earlier.

Seaborne volumes rose rapidly thanks to the continuous recovery of the global economy and the rising of global trade, according to the report.

Specifically, Chinese ports’ cargo throughput stood at 3.23 billion tons in Q3, up by 7.9 percent year-on-year. This was the highest growth since 2014 and is 5.8 percent higher than that seen in Q2, the report says.

During the third quarter, major ports in South Korea reported a cargo throughput of 385 million tons, up by 8.8 percent year on year, yet slightly down quarter-on-quarter.

Furthermore, cargo throughput in Europe saw a year-on-year growth rate of 1.1 percent, which was down compared with the 1.2 percent seen last year.

Cargo volumes at American ports also sustained the growing trend. In Q3, major US ports saw an 8 percent growth rate for cargo throughput.

Finally, growth rates of cargo throughput at Australian ports rose as well. Major ports including Port of Port Hedland, Port of Hay Point and Port of Brisbane recorded increases of 1.1 percent, 8.8 percent and 3.3 percent, respectively.

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