Shanghai sees strong export growth in containers and container ships

Shanghai reported surging growth in the export of containers and container ships in the first eight months of this year, local customs said on 22 September.

From January to August, Shanghai exported 246,000 containers, up twofold from the same period last year, Shanghai Customs said. The value of exports surged 455 percent to 8.06 billion yuan (about US$ 1.25 billion).

During the period, the city also exported 16 container ships worth 7.99 billion yuan, although there was no record of exports for the same period last year.

The growth in exports of containers and container ships shows that the global demand for China-made goods is still strong in the face of the COVID-19 pandemic, according to customs authorities.

Market demand for containers has been strong, as global shipping prices spiked from the third quarter of 2020, according to Shanghai CIMC Baowell Industries Co., Ltd., which alone exported 163,000 containers in the January-August period.

Container prices and shipping costs have impacted on product cost in the fasteners and tools markets, among many others, with low availability of product and high raw material prices also driving up costs.

Reporting by Additional comment by Torque Magazine.

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