China box port volumes rise in May, Shanghai set to top world
Post Date: 26 Jun 2010 Viewed: 462
Chinese container ports recorded their highest-ever monthly throughput in May, with 12.4 million TEU and if things continue, Shanghai stands to replace Singapore as the world's top container port. Shanghai's liftings have exceeded Singapore for two consecutive months since April and now Shanghai stands to end the year surpassing Singapore as the busiest container port in the world, according to Paris-based Alphaliner. Last year, Shanghai handled 25.0 million TEU compared to 25.9 million TEU in Singapore. China's strong performance came on the back of a 48 per cent increase in the value of Chinese exports and imports for May 2010, which exceeded analysts' expectations by a "significant margin", said Alphaliner. Six out of the top 10 ports posted record volumes, led by Ningbo which showed the highest growth. The port recorded a 52 per cent increase to 1.23 million TEU. Shanghai, Guangzhou, Tianjin, Xiamen and Dalian also reported their highest-ever monthly volumes. But the Ministry of Commerce warned that euro zone trouble will take its toll on exports. May's shipment orders were made before Europe's debt problems exploded. Thus, June figures are likely to remain good, but will probably weaken from July. Alphaliner estimates global container volume demand growth for 2010 to be at 11.5 per cent, with lower second-half growth offsetting higher first-half growth.