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Slow economies affecting major ports, says Shanghai Shipping Institute

Slow economies affecting major ports, says Shanghai Shipping Institute

SHANGHAI: Ports around the world overall saw weak performance in the second quarter of 2014 due to less trade to and from emerging markets in Asia, according to the Shanghai International Shipping Institute.
The report stated that developed economies, particularly the US, have kept a steady recovery, emerging economies in Asia, however, facing headwinds.
“Container at large Chinese ports rose 5.7 percent year over year, to 96.70 million TEUs, compared with 8.3 percent year-over-year growth in the first half of 2013.
“This brings down the growth rate of international trade and slows down the expansion of global ports, whose growth decline may continue in third quarter,” SISI said in its report.
The title of the report by Shanghai International Shipping Institute (SISI) was Global Port Development Report 2014Q2.
Major ports in the US saw more than 4 percent growth rate in the second quarter, and European ports maintained more than a 2 percent growth rate since the beginning of the year.