Sunday, January 9, 2011

Shanghai overtakes Singapore as the busiest port

Shanghai said it overtook Singapore in 2010 to become the world's busiest container port due to the economic recovery and six-month long World Expo with boosting the container and cargo traffic travelling through the port.

Shanghai's port handled 29.05 million twenty-foot equivalent units (TEUs) in 2010, in line with the municipal government strategy in turning Shanghai into a global shipping centre. China's cabinet has declared it wants Shanghai to move up the value chain and become a full-service world-class shipping centre by 2020, with shipping financing, reinsurance and arbitration services.

Singapore's container traffic rose 9.9 percent to 28.4 million TEUs in 2010.

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