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Shanghai retains world's busiest box port title, but growth slows

THE Port of Shanghai posted a 3

Shanghai retains world's busiest box port title, but growth slows

THE Port of Shanghai posted a 3

21 January 2020 - 19:00

THE Port of Shanghai posted a 3.07 per cent year-on-year increase in container volume in 2019 to 43.3 million TEU, ranking it as the world's busiest container port for a 10th year.

However, this year's attainment marked a slowdown from the 4.4 per cent gain to 42.01 million TEU in 2018 that Shanghai made over the 40 million TEU throughput achieved in 2017.



'The port achieved great performance in 2019, especially in the sector of container handling volume. We have accomplished the major economic targets for the past year,' said Shanghai International Port Group (SIPG).



The port reported CNY36 billion (US$5.1 billion) in revenue down 5.3 per cent in 2019 year on year and CNY9 billion in net profit, down 12.5 per cent per cent.



Singapore remained the world's second largest container port in 2019 reporting a volume of 37.2 million TEU.


WORLD SHIPPING

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