Bulk commodity trade on the rise
The volume of trade of import and export commodities witnessed a surge in the first half of 2015 at Taicang port in Jiangsu province.
According to Taicang city's quarantine bureau, in the first six months of 2015, the bulk commodities imported through Taicang port amounted to 16.36 million tons. Among the imports, 90 percent were iron ore imports, which topped 15.6 million tons.
From Jan to June 2015, iron ore imports at Taicang port rose by 12 percent from the same period last year. In June alone, 3.11 million tons of iron ore entered China's market through the port.
The decline in mineral prices on the global market of late has been a major driver of import growth. Contrary to Taicang port's performance, other Chinese ports did not fare as well during the same period. It is thought that the port's geographical proximity to Pacific Ocean shipping lines and the Yangtze River waterways have made it a prime choice for bulk commodity transportation in China.
Besides iron ore, Chinese importers also started to use Taicang port as the trans-shipping hub for manganese ore and chrome ore transactions.
Taicang port also has a strong suit in dock development.
Wugang terminal, Taicang's premiere working dock, can unload 9,000 tons of goods per hour at peak capacity. A vessel containing 100,000 tons of goods can be unloaded at the terminal in less than 24 hours.
Meijin Huifeng and Wanfang docks are involved in bulk commodity shipping and trade. Meijin Huifeng dock has become a mainstay dock in Taicang. In June, it processed 620,000 tons of imported iron ore.
China Huaneng, a state-run power supplier, owns a power plant and two docks in Taicang. One dock has been in operation for years, while the other will enter operation in the second half of 2015.
Edited by Jacob Hooson