Singapore has lost its crown as the world’s busiest container port, losing its place to its Chinese rival Shanghai.
Singapore has lost its crown as the world’s busiest container port, losing its place to its Chinese rival Shanghai.
According to IFW’s sister title, Lloyd’s List, Shanghai handled more than 29 million teu last year, compared with Singapore’s 28.4 million teu.
Singapore had been leading its rival until April, when Shanghai raced ahead on the back of a strong recovery in Chinese exports.
According to reports, strong economic growth, plus an extra push to the local economy from hosting the World Expo, were the key factors behind Shanghai’s rise to the top.
Shanghai also outperformed Singapore in terms of overall cargo handled, processing 650 million tonnes, compared with the 502 million tonnes handled by Singapore.
However, Singapore has downplayed the significance of the figures for its business, pointing out that it was a transhipment port – around 80% of its business is transhipment – whereas Shanghai catered for direct imports and exports.
The Maritime and Port Authority of Singapore told Lloyd’s List it was not concerned with the change in its relative position, and would focus instead on ways to continue to provide quality and competitive service.
