Singapore grows, but Shanghai grows faster
The Port of Singapore has seen container volumes rise 12.2 percent in the first three quarters of 2010 to 21.2 million TEUs.
But that growth may not be enough to keep Singapore the busiest container port in the world, as it has been the last few years. Shanghai recorded nine-month volume of 21.5 million TEUs, with stronger growth (18.6 percent), according to a Containerisation International report. Shanghai has been boosted significantly in recent years by the development of its deepwater Yangshan terminal complex, shifting port activity from central Shanghai to an enormous offshore location that has lured more transshipment in eastern and northeastern Asia.
Singapore, managed by PSA International, has major expansion plans, but is almost wholly reliant on transshipment to bolster traffic. And many port analysts suggest that Shanghai actually long ago passed Singapore as the world’s busiest port since most of Singapore’s transshipment volume is double-counted.
Singapore grows, but Shanghai grows faster
