13-01-2017

Shanghai handles record 37m TEU in 2016, remains highest globally

Shanghaiport

THE port of Shanghai moved another record throughput of 37.13 million TEU in 2016, a rise of 1.6 per cent compared to the previous record throughput of 36.54 million TEU in 2015.

Shanghai International Port (Group) Co (SIPG) announced that it has retained its crown as the world's busiest container port, ahead of its closest rival Singapore port, which has handled 30.9 million TEU in 2016, similar to 2015, according to media reports.

The Lion City's port held its volumes steady despite the challenges ?the current poor global economic conditions and lower trade volumes, the collapse of Hanjin Shipping and the uncertainty of shifting alliances.

In financial results, Shanghai-listed SIPG registered a full year net profit of CNY6.85 billion (US$989.3 million), an improvement of 4 per cent from the gain of CNY6.56 billion in the previous year.

Revenue also rose by 5 per pent year on year to CNY31 billion on the back of the higher container throughput, SIPG announced.

Source: Schednet

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