Part of Ningbo – Zhushan port of China. (Photo: VCG).
Port congestion in China is easing and in some cases more optimistic than ports in the US, according to Natixis bank and Kiel Trade Indicator.
Notably, the analysts behind Kiel Trade Indicator said that, although the percentage of goods stuck at ports globally is still at a three-year high, the congestion is gradually being cleared.
Specifically, the proportion of goods on ships waiting to dock in the US and China has decreased from 14% in August this year to 12% in November. However, this figure is still quite good. higher than the rate of 8% in August 2020.
In which, the rate of goods stuck on ships at Ningbo port (China) is about 1.5%, less than half of 3% at the port of Los Angeles (USA). Ningbo – Zhoushan is the world’s third largest seaport by volume of shipping containers, while the port of Los Angeles – San Francisco is the busiest gateway for imported goods to the US.
Elsewhere, the Pearl River Delta (in Guangdong province, China) is still congested similar to the Savannah area (Georgia, USA). The rate of goods waiting to dock at the port is about 3%.
Over the past several months, the Chinese government has continuously added restrictive measures at seaports to limit the outbreak of the pandemic. However, the country is still under pressure to revive economic growth as the debt crisis of real estate companies worsens.
One of the ways for China to boost its economy is to increase its exports to the world, SeafoodSource says. Therefore, this may be one of the reasons for the congestion at China’s seaports to be cleared.
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