Shanghai Retains Crown as Busiest Container Port
China’s Shanghai retained its title as the world’s busiest container port for a fifth consecutive year after widening the gap with its closest rival Singapore, according to a report from Bloomberg.
While, Singapore handled 33.9 million 20-foot containers last year, Shanghai’s final figure for 2014 would be about 35.2 million boxes. A year before, the gap between the two ports was about 1 million boxes.
Shanghai port, which includes Waigaoqiao port, Yangshan port and Wusong port, has been the world’s busiest container since 2010 when its annual volumes surpassed that of Singapore.
The report says that Shanghai, Shenzhen and other ports in China are dominating the global container-shipping market while the facility in Ningbo overtook South Korea’s Busan last year as the world’s fifth-busiest harbor. Seven of the world’s 10 top container ports were in China in 2013, with Hong Kong coming in at fourth.
Shanghai International Port Group (SIPG) recorded a profit of US$1.08 billion, a 27% increase from 2013. Revenue has also crept up by 1.9% year-on-year.
