Shanghai may overtake Singapore as the world’s largest port
With its throughput expected to grow 15 percent this year, Shanghai may overtake Singapore as the largest container port of the world. In 2008, boosted by Yangshan port’s third-phase expansion, throughput will exceed 30 million TEUs, said Chen Shuyuan, president of Shanghai International Port Group Co (SIPG), operator of China’s busiest container port.
Shanghai surpassed Hong Kong for the first time to be the second largest container port in 2007, behind Singapore. Its container volume reached 26.15 million TEUs last year, taking 20 percent growth. Singapore remains the largest container port in the world.
SIPG also intends to invest around 4.5 billion yuan in expansion—2 billion yuan will be spent on adding berths. But investment in the Yangshan project in excluded. Although no “concrete plans”, an overseas listing is also considered.
According to Chen, an NPC deputy, given the size of the mainland, Shanghai overtook Hong Kong is not a surprise. However, ports in Hong Kong and Singapore have advantages in terms of natural resources and better policies; and Shanghai still have to learn from them the better technology as well as expertise on management and service.
Despite signs of a US economic recession and anticipation of China’s export slow, Chen is optimistic about the port growth this year. He still expects foreign trade will be up 20 percent in the Yangtze River Delta region, which is 15 percent over the national average.
Chen said, the port group may bring in foreign investors and strategic partners to make some development and improvement in its business and management. A good example is its cooperation with AP Moeller-Maersk Group in Belgium. It expects total cargo volume, including non-container traffic, to rise between 8 and 10 percent this year.
Are you interested in the business opportunities in China?
China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.
BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.
Please visit http://www.BPOVIA.com/ for details about our service.
Popularity: 3% [?]