Trade activity lifts outlook in maritime sector
By Zhong Nan | China Daily | Updated: 2013-10-30 07:33
In the wake of increased trade activities and international summits that have bolstered regional economic cooperation, new data indicate that the fourth quarter should be a turning point for the recovery of China's shipping sector.
The Shanghai International Shipping Institute's latest index shows that the prosperity level of the country's shipping industry in the third quarter rebounded by 15 points to 101.7 points, quarter-on-quarter. It is the first time that the index surpassed the 100-point neutral reading since the third quarter of 2011.
Due to weak demand, depressed freight rates and price wars, China's shipping industry has been stuck in a recession for more than four years.
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