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Shanghai Port sets a new record: China’s Shanghai Port became the first port in the world to achieve an annual container throughput exceeding 50 mn TEU, according to a statement. Export-heavy containers, international transfer containers, and ship-to-ship transfers — which are projected to reach a record 60% in 2024 — are main factors in the record. The port has been ranking first in container throughput for the past 14 consecutive years, and is expected to secure the same position for the 15th year.
IN OTHER CHINA NEWS- Russia is experiencing difficulty in shipping goods through its eastern rail network to China as sanctions and war efforts weigh down the economy, Bloomberg reports. China’s imports from Russia fell 9.2% y-o-y in September and 4.3% y-o-y in October, driven down by trade disruptions due to payment issues. The nation’s state-owned carrier Russian Railways JSC cut down its investment program for 2025 by 30%, while cargo is building up in existing trade bottlenecks around the country.
Looking forward: The railway is “experiencing its deepest slump since the 2008-09 crisis this year, and the trend is still going strong,” Moscow-based MMI Research told the news outlet. “We assume that this is due to both the needs of the army — loading the network with priority cargo — and the worsening problems with the rolling stock,” MMI Research added.
