Chinese Export boom beneficial to Shipping

China : Strong Chinese exports for the month of June triggered an increase in shipping and port operations worldwide.

Irish Maritime Development Office (IMDO) reports that the analysts expect favourable export tides to flow over to the second half of 2014, with some analysts projecting a double-digit improvements year-on-year.

The latest customs data reveal that the exports reached USD 186.8bn, an increase of 7.2% year-on year in June. Shipments heading to the United States rose by 7.5% compared to last year, while the shipments on course to the European Union saw an ever steeper incline of 13.1%.

The latest container volume figures best reflect the overall increase in exports. The largest container port in the world, Shanghai, marked a 11% increase of containers handled, with the port of Guandong marking an increase of 5.3%.

The numbers reached in May and June are head and shoulders above the stats reported for the first months of the year.

Source : dailyshippingtimes.com