CENTRAL and southern ports lost market share to the Bohai Rim in the first nine months of 2013 as increasing industrialisation in northern China increases demand for container shipping, says London's Drewry Maritime Research.
According to Drewry Maritime Research, the northern region's share of the overall Chinese market rose from 26 per cent in 2012 to 29 per cent, because of the growth of domestic cargo reserved for China flagged ships.
Central Chinese ports, in Yangtze River delta, where labour is most costly, are losing market share to the Bohai Rim, which has nearly doubled its share from 15 per cent to 29 per cent between 2002 and 2013.
Feeding northern ports Liaoning, Jilin and Heilongjiang provinces where most cargo is domestic or intra-Asia, exporting machine tools, auto parts and electronics while importing steel and electronic components.
"The volume of international cargo is also increasing rapidly, which helps to explain why the region's freight rate premium has mostly disappeared over the past six months," said the Drewry report.
Drewry analysts said they have little doubt that more deep-sea services will be induced to call directly at Bohai Rim ports because of the increasing growth of foreign trade.
PORTS
06 November 2013 - 22:01
Northern Bohai Rim gains market share from south, central ports
CENTRAL and southern ports lost market share to the Bohai Rim in the first nine months of 2013 as increasing industrialisation in northern China increases demand for container shipping, says London's Drewry Maritime Research.
PORTS
06 November 2013 - 22:01
Northern Bohai Rim gains market share from south, central ports
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