China’s coronavirus conundrum

The global container market grew by 1.5% to 173.5 million TEU in 2023, but without COVID-19, it would have reached 198.1 million TEU.

Last year, all the Chinese ports handled 16.97 Bt, having exceeded their 2022 volume by nearly 8%. Shanghai throughputs surged, Hong Kong saw a downfall.

“The management of the Red Sea crisis has alleviated concerns of sudden container price rises, providing a more predictable environment”

Valenciaport handled 784,095 containers in the first two months of the year, a growth of +9.97% compared to January-February 2023.

Xeneta data reveals that average spot market rates from China to Mexico have consistently surpassed long-term contract rates since April 2023.

Deal includes Xiamen Ocean Gate Terminal, the first terminal in China to implement AGVs.