Wednesday, August 19, 2009

Hong Kong Shipping Container Traffic up Mumbai Container Storage Prices Down

Encouraging signs in shipping levels and lower prices throughout Asia
Shipping News Feature

HONG KONG – MUMBAI – Traffic levels in Hong Kong rose in July against the previous month by 7.7% following a trend we have seen in other reports from around the globe. Although, as in other cases, the figures were down against the previous year, by 14.5%, the Port handled 62,000 twenty tonne equivalent units daily, up 4% against June’s figures.

Meanwhile agreement was reached in the port of Mumbai to lower charges for container stuffing/destuffing and allow additional free storage periods on containers at designated yards and freight depots, although not in the main docks themselves.

The scheme is designed to attract more container traffic and will commence on 9th September for an initial one year period. Mumbai only attracted circa19,000 teu’s in the period April to July this year, a decline of 50%. General cargo levels however were strong and meant only a tiny percentage drop for the port overall.

Development of Mumbai’s privately funded $ 300 million offshore container terminal continues, and, with it’s inauguration due next year it is vital that cargo is wrested away from India’s largest container gateway and the capital’s near neighbour Jawaharlal Nehru