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City cargo rebounds amid uncertainty
By Ding Yining |
June 18, 2010, Friday
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Online Edition
Online Edition
SHANGHAI is expected to see better-than-expected cargo turnover this year with the rebound of exports but uncertainty still remains with global trade instability, a government official said today.
"Shanghai's yearly container turnover will be slightly above the 25.5 million Twenty Equivalent Units target set at the beginning of this year," Shen Xiaosu, vice director at Shanghai Urban Construction and Communication Commission, said at a press conference today.
"The European debt crisis and the yuan's currency issue as well as overcapacity concern adds to the uncertainty of the shipping market and the industry still faces a severe situation."
Shanghai's container ports handled a total of 11.4 million TEUs in the first five months this year, an 18 percent jump from last year and slightly above 2008 figures over the same period.
The city's cargo throughput reached 208 million tons in the first four months this year, up 21 percent from the same period last year.
"Shanghai will step up efforts to build the city into an international shipping hub by the end of 2020," Shen said.
The commssion has submitted a pilot program to the State Council to introduce tax refund to exporters of dry bulk goods and containers departing from Qingdao and Wuhan that use Yangshan Deep Water Port as a transfer hub. The trial operation is expected to be launched in the near future, Shen told the press briefing today.
"Our next focus will be boost the shipping service industry and set up a seaman evaluation center as well as complete the preliminary research work for shipping brokerage system in the near future," he added.
"Shanghai's yearly container turnover will be slightly above the 25.5 million Twenty Equivalent Units target set at the beginning of this year," Shen Xiaosu, vice director at Shanghai Urban Construction and Communication Commission, said at a press conference today.
"The European debt crisis and the yuan's currency issue as well as overcapacity concern adds to the uncertainty of the shipping market and the industry still faces a severe situation."
Shanghai's container ports handled a total of 11.4 million TEUs in the first five months this year, an 18 percent jump from last year and slightly above 2008 figures over the same period.
The city's cargo throughput reached 208 million tons in the first four months this year, up 21 percent from the same period last year.
"Shanghai will step up efforts to build the city into an international shipping hub by the end of 2020," Shen said.
The commssion has submitted a pilot program to the State Council to introduce tax refund to exporters of dry bulk goods and containers departing from Qingdao and Wuhan that use Yangshan Deep Water Port as a transfer hub. The trial operation is expected to be launched in the near future, Shen told the press briefing today.
"Our next focus will be boost the shipping service industry and set up a seaman evaluation center as well as complete the preliminary research work for shipping brokerage system in the near future," he added.
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