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Container traffic to slow at Shanghai port
By Ding Yining |
March 7, 2012, Wednesday
|
Online Edition
Online Edition
GROWTH of container throughput at Shanghai port will slow down this year, because of sluggish trade brought on by the European debt crisis and weak global demand.
Shanghai International Port Group Chairman Chen Xuyuan said container turnover will grow 3 percent to 5 percent annually this year and the shipping industry will face rising cost pressure and excess supply.
He made the comments during the annual session of the National People's Congress in Beijing yesterday.
In the first two months this year, container turnover through Shanghai Port added 13 percent to 2.19 million TEUs.
Chen also added that the group, which is the city's port operator, is studying expansion plans for the fourth phase of Yangshan Deep Water Port.
Last year, Shanghai port handled 31.7 million twenty-foot equivalent units of container goods 鈥 a 9.2 percent increase from 2010.
Shanghai overtook Singapore as the world's biggest container handler in 2009 and adopted a string of policies to put wind in their sails, including a business tax exemption on international shipping revenues for shippers registered at the Yangshan Deep-Water Port.
Shanghai International Port Group Chairman Chen Xuyuan said container turnover will grow 3 percent to 5 percent annually this year and the shipping industry will face rising cost pressure and excess supply.
He made the comments during the annual session of the National People's Congress in Beijing yesterday.
In the first two months this year, container turnover through Shanghai Port added 13 percent to 2.19 million TEUs.
Chen also added that the group, which is the city's port operator, is studying expansion plans for the fourth phase of Yangshan Deep Water Port.
Last year, Shanghai port handled 31.7 million twenty-foot equivalent units of container goods 鈥 a 9.2 percent increase from 2010.
Shanghai overtook Singapore as the world's biggest container handler in 2009 and adopted a string of policies to put wind in their sails, including a business tax exemption on international shipping revenues for shippers registered at the Yangshan Deep-Water Port.
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