Shanghai surges to second spot

Shanghai has leapt over Hong Kong to become the world's second busiest container port, with 26.15 million TEU crossing its wharves last year.

Hong Kong handled 23.99 million boxes. The Yangtze River Delta port remains behind Singapore, which handled 27.9 million containers in 2007. However, significant expansion at Shanghai's giant Yangshan port complex means its move into number one spot is a matter of time. The 20.4 percent increase in throughput helped Shanghai International Port grow its net profit by 22.75 percent to US$518.77 million. Cargo volume handled stood at 353 million tonnes, up 13.1 percent, while operating revenue rose 27.6 percent to $2.32 billion. The port expects container throughput to reach 30 million TEU this year, although the National Reform and Development Commission, China’s top economic planning agency, have raised concerns over the slowing US economy.

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