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.
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