Freight handled in Chinese ports during the period of 7-13 April fell by 9.7 percent compared to the previous week to 244 million tons, according to the newspaper's information. The previous week saw a decline of 0.9 percent.
The past two weeks thus seem to mark a sharp end to a series of weeks with increased freight volumes in Chinese ports since the USA and China introduced tariffs on goods from each other at 145 and 125 percent, respectively.
Prices for container deliveries from China to the USA are also being pushed sharply downwards as demand for freight decreases, according to the Ningbo Container Freight Index.
The statistics come at the same time as the Swiss major bank UBS is lowering its growth forecast for China to 3.4 percent, from previously 4.0 percent. The new forecast is based on two-thirds of China's exports to the USA disappearing during the coming quarter and the value of China's deliveries of goods to the world decreasing by 10 percent this year.
