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Tianjin Port may miss target
Published on: 2008-09-29
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Tianjin Port Co. may miss its growth target next year as a global economic slowdown damps demand for Chinese-made goods overseas. "The first half of next year is going to be the most difficult period,'' Chairman Yu Rumin said on 27 September, "Container traffic related to exports will be hurt the most.'' Tianjin may struggle to boost cargo-box volume more than 20% as planned because rising job insecurity and a stagnant housing market are curbing demand for new furniture and consumer electronics in the U.S.. Missing the target "wouldn't be a surprise as China's container growth is expected to slow,'' said Ric Leung, a Hong Kong-based Everbright Securities Co. analyst, "It makes sense for Tianjin to diversify its business by boosting dry-bulk.''
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