Shanghai port poised to overtake Singapore
June 18, 2007 by Splatty
Filed under Seafreight
You knew it was only a matter of time…
After overtaking Hong Kong for the number two spot earlier this year, Shanghai is projected to overtake the top spot from Singapore sometime next year.
“Shanghai port is likely to overtake Singapore next year,” said Wang Qingwei, board secretary of Shanghai International Port (Group) Co, the port’s operator.
China’s busiest port has almost doubled its container traffic over the past three years, outpacing growth in Singapore, under a government drive to build the city into the nation’s shipping hub. Volume may rise 15 per cent to 25 million boxes this year, said Wang.
Shanghai continues to show phenomenal growth after posting a 21% increase over last years volume through the first 5 months of the year. We can expect that trend to continue as Shanghai’s Yangshan port will expand cargo handling capacity to 30 million containers by 2010.
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