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Friday, August 28, 2009

Shenzhen port unveils $45m of incentives

Shenzhen: Undergoing its hardest year of business for a generation Shenzhen port in the south of China will today unveil a series of incentives to coerce shipping lines to call more often at the port’s four box terminals. The total package the authority is making available is 300m RMB, one of the largest incentives packages offered by any port this year, underscoring the gravity of the shortfall in boxes in south China. Shenzhen, at the heart of the manufacturing centre that is the Pearl river delta, has suffered from a severe drop in demand from Europe and the US for Chinese products. The port is likely to post a full year double-digit percentage decline, becoming the worst performer of the major boxports in China. Its performance will see Hong Kong remain ahead of it in third place in the global boxport rankings for another year.  [28/08/09]