Evidence of just how busy China has been pumping products to consumers ahead of Donald Trump’s tariffs comes from Shanghai, the world’s busiest container port, with news the financial metropolis handled more than 5m teu in January, a record amount that puts it on track for another landmark year. Putting the monthly record in perspective, Shanghai handled the same volume of boxes in the space of 31 days that Manila, the busiest container port in the Philippines, handled throughout 2024.
Shanghai became the first port in the world to handle more than 50m teu last year, notching up a total of 51.51m teu.
Port operator Shanghai International Port Group stated in a release: “Ports are the barometer of foreign trade. The performance of Shanghai Port in the first month of the new year reflects the active foreign trade and strong resilience of our country’s economy.”
An update from China-based Gerudo Logistics yesterday noted a renewed surge in shipping demand post-Chinese New Year.
“With factories ramping up production, there is a noticeable spike in export volumes, particularly in sectors like electronics, textiles, and automotive parts. This surge is leading to tight capacity, especially on popular trade lanes to Europe and North America,” Gerudo noted, going on to warn about congestion at major ports, including Shanghai, Ningbo, and Shenzhen, as backlogs from the holiday period are cleared.
A tariff tit-for-tat has got underway between the world’s two largest economies with the US putting a blanket 10% levy on all Chinese imports this week, and Beijing responding, saying it will impose from next Monday a 15% tariff on LNG and coal imported from the US, as well as a 10% tariff on oil, agricultural machinery and large-displacement cars.
Energy News Beat