logo
Port of Shanghai Surpasses 5 Million-TEU Monthly Throughput Ahead of Trump Tariffs

Port of Shanghai Surpasses 5 Million-TEU Monthly Throughput Ahead of Trump Tariffs

Yahoo07-02-2025

After China closed out 2024 with record export levels as U.S. shippers scrambled to secure cargo ahead of President Donald Trump's inauguration, the country's largest port rang in the new year keeping in line with the trend.
The Port of Shanghai reached its own one-month record in January, handling 5.1 million 20-foot equivalent units (TEUs) for the first time in its history. The port isn't just the largest gateway in China—it's the most trafficked worldwide, already handling a record 51.5 million TEUs in 2024.
More from Sourcing Journal
Trump's America First Trade Policy: Tariff Risks Are Rising
Trump's Trade Policies Could Spur Modest Stagflation in US Economy
Pre-Lunar New Year Rush Escalates Congestion Across Chinese Ports
'Ports are the barometer of foreign trade,' said the port's operator, Shanghai International Port Group, in a statement. '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.'
In the statement, the group said it would continue to make efforts in digitization and emissions-friendly initiatives, all while improving port operation efficiency and service quality and continuing its position as a leading international hub.
The excessive throughput can be attributed to two major reasons: one being the aforementioned return of President Trump to the White House and the 10 percent additional tariffs that he officially hit Chinese goods with on Feb. 4.
Secondly, Lunar New Year began on Jan. 29, marking the annual rush of product out of China before the nation's factories shut down.
Combine both of those factors and you get a nearly 300,000-TEU increase over the second highest throughput ever at 4.8 million TEUs in July 2024.
'With factories ramping up production, there is a noticeable spike in export volumes, particularly in sectors like electronics, textiles and automotive parts,' said China-based Gerudo Logistics in a Wednesday update. 'This surge is leading to tight capacity, especially on popular trade lanes to Europe and North America.'
Gerudo also warned of congestion at major ports, including Shanghai, as well as China's other top maritime hubs including Ningbo and Shenzhen, as backlogs from the holiday period are cleared.
As of Monday, 9 percent of the global container shipping fleet is still docked or waiting at berth at a port, totaling 2.83 million TEUs, according to data from container shipping analysis firm Linerlytica. On a global scale, the number was an improvement from the week prior, when 10.5 percent of vessel capacity—or 3.3 million TEUs—awaited port anchorages worldwide.
Congestion has been a problem at both the Chinese ports, as well as adjacent southeast Asian ports like Singapore throughout 2024 amid global shipping slowdowns due to the Red Sea crisis that lasted throughout the year. Of 88 analyzed ports by supply chain visibility provider Beacon, 60 (68 percent) recorded longer average vessel anchor times in 2024 compared to 2023.
It's possible that the ports like Shanghai could clog even further as the tariffs go into effect, especially since the same legislation that levied those duties also put an end to the Section 321 de minimis provision for low-value goods entering the U.S.
Since e-commerce companies with China-based supply chains like Shein and Temu are now unable to send tax-free individual packages directly to the consumer via air freight, a move to ocean freight isn't out of the question if they want a cheaper shipping option than flying in bulk.
As the Port of Shanghai continues to see a flood of containers growth, U.S. ports are showing some concern over President Trump's executive order to freeze all funding provided in the Bipartisan Infrastructure Law signed into legislation by President Joe Biden in November 2021.
That law authorized $1.2 trillion for transportation and infrastructure spending, and provided $2.25 billion for the Port Infrastructure Development Program through 2026, with $450 million initially made available for fiscal year 2025.
'Our entire industry is very alarmed and concerned about the pause on grant funding,' Paul Anderson, president and CEO of Port Tampa Bay, told lawmakers at a House Transportation and Infrastructure maritime subcommittee hearing on Wednesday.
Anderson, who was once the chairman of the American Association of Port Authorities and a former Federal Maritime Commissioner, said representatives from ports nationwide called an emergency meeting due to their concerns.
'There's a lot of uncertainty, and [the pause] will be very difficult and burdensome for ports that have had strategic planning involving the use of federal grants,' Anderson said. But he also acknowledged that 'we're very early on' in the new administration. 'I think once this is reevaluated and looked at, pragmatism will win the day.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gavin Newsom is having his social media moment
Gavin Newsom is having his social media moment

Fast Company

time14 minutes ago

  • Fast Company

Gavin Newsom is having his social media moment

'Fuck around' and 'find out,' read a TikTok post, following a screenshot announcing that California is suing President Donald Trump for deploying the National Guard to the streets of Los Angeles. But the TikTok wasn't shared by a typical meme account—it came from California Governor Gavin Newsom. 'I damn near fell over when I realized this was Gov. Newsom's page,' one user commented. Since Friday, demonstrations have erupted across Los Angeles in protest of the president's immigration policies and the ongoing Immigration and Customs Enforcement raids. Although many of the demonstrations have remained peaceful, there have been violent incidents including authorities deploying tear gas and rubber bullets, and protestors setting Waymo vehicles ablaze throughout the city. As tensions escalated, the Trump administration deployed the National Guard and Marines—despite objections from local officials—sparking a lawsuit from the state, threats of arrest against Governor Newsom, and a surge of defiant memes. 'And remember kids, the next time anybody tells you 'the government wouldn't do that', oh yes they would,' says the popular TikTok sound used on Newsom's official account video, playing over screenshots of news headlines and images of armed forces confronting demonstrators. In another viral video from the governor's page, which amassed over 5.4 million views, Taylor Swift's 'You Need To Calm Down' plays over a series of photos of the two politicians. 'r u ok?' the post asks, with a caption reading: 'America's keyboard warrior.' Newsom's clapback drew widespread praise in the comments. 'I do disagree with Newsom a lot but him standing up to tyranny and standing with your state takes some serious guts. Hats off to you Newsom,' wrote one user. He's also taken to his personal account to deliver meme-laced messages to Trump—one featuring a photoshopped image of the president wearing a crown, captioned 'send in the troops.' The slideshow ends with a shot from the musical Hamilton, with text reading: 'Democracy is under assault right before our eyes. It's time for all of us to stand up.' The online showdown has significantly boosted Newsom's social media presence, growing his personal TikTok account by approximately 397,000 followers and his official Governor account by 479,000 since Friday. Newsom is the latest in a growing number of politicians leveraging memes and social media to bypass traditional media and speak directly to the public through humor. Famously, Kamala Harris gained momentum during her presidential campaign with ' Brat summer ' and the coconut tree trend, while Joe Biden leaned into the viral ' Dark Brandon ' meme during his reelection campaign. Although meme strategies can generate enthusiasm and visibility, the 2024 election results suggest that online popularity doesn't always translate at the polls.

UnitedHealth Seeks $1B Latin America Exit: Sources
UnitedHealth Seeks $1B Latin America Exit: Sources

Yahoo

time14 minutes ago

  • Yahoo

UnitedHealth Seeks $1B Latin America Exit: Sources

UnitedHealth Group Incorporated (NYSE:UNH) is one of the best Dow stocks to invest in. The company is considering several offers for its Latin American business, according to two insiders familiar with the situation, as it works to recover from a series of major setbacks, including the removal of its CEO and a reported criminal accounting investigation. The largest US health insurer has aimed to exit Latin America since 2022, but selling its Banmedica unit has become more urgent recently due to multiple challenges, one source said. A senior healthcare professional giving advice to a patient in a clinic. New CEO Steve Hemsley told shareholders last week that he is focused on regaining their confidence following a disappointing earnings report and a Wall Street Journal story about a criminal probe into alleged Medicare fraud. UnitedHealth Group Incorporated (NYSE:UNH) maintains it has not been notified by the Department of Justice and stands by its business integrity. UnitedHealth Group Incorporated (NYSE:UNH) has received four non-binding bids for Banmedica, which operates in Colombia and Chile, totaling around $1 billion, according to sources who requested anonymity due to the confidential nature of the negotiations. While we acknowledge the potential of UNH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio

Disney to Pay Comcast $438.7M for Full Hulu Ownership, Ending Valuation Dispute
Disney to Pay Comcast $438.7M for Full Hulu Ownership, Ending Valuation Dispute

Yahoo

time14 minutes ago

  • Yahoo

Disney to Pay Comcast $438.7M for Full Hulu Ownership, Ending Valuation Dispute

The Walt Disney Company (NYSE:DIS) is one of the best Dow stocks to invest in. The company has agreed to pay Comcast $438.7 million to buy out its remaining stake in the streaming service Hulu, ending a lengthy appraisal process. In 2023, The Walt Disney Company (NYSE:DIS) announced its plan to acquire Comcast's 33% share of Hulu, paying $8.6 billion based on a minimum value of $27.5 billion that the companies had agreed on in 2019. This move wasn't unexpected, as reports had indicated Disney's intention to gain full control of Hulu. The Walt Disney Company (NYSE:DIS) had originally acquired a two-thirds stake in Hulu through its purchase of Fox Corp.'s entertainment assets. After the initial payment, Disney and Comcast entered an appraisal process initially set to finish in 2024. The deal is expected to be finalized by July 24. Disney CEO Bob Iger made the following statement: 'We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck.' Meanwhile, The Walt Disney Company (NYSE:DIS) has started merging Hulu with its other streaming services, which are also bundled with ESPN+, its sports streaming platform. While we acknowledge the potential of DIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store