[News] China: port and rail traffic continues to grow
The Chinese market confirms its growing trend, particularly for the transport and logistics sector. Here’s two recent news to highlight.
Boom in rail freight in 2018
According to data provided by the Office for the Promotion of the Belt and Road Initiative, in 2018 the value of goods transported by rail between China and Europe grew by 106% compared to 2017, reaching 33 billion dollars.
This trend is also confirmed in the first quarter of 2019, with the value of the goods transported increased by 56.6% and the volume of 95%. [source: TheMediTelegraph]
The growth of Chinese ports is close to 5%
The first quarter of 2019 shows a 4.9% growth in traffic volumes involving the top 45 Chinese coastal ports.
The total container traffic has reached 53.79 million TEU (an acronym for twenty-foot equivalent unit: it’s the standard volume measurement in the transport of ISO containers and it corresponds to about 40 total cubic meters).
The top five Chinese ports by volume manage a total of 33.38 million containers, equal to 60.3% of the total volume [source: TheMediTelegraph].