The cargo turnover of Shanghai port will exceed 500 million tons
this year, making it the world's busiest for the second consecutive
year, says Shanghai Port Administration.
It replaced Singapore port as the largest in terms of total
cargo handling capacity in 2005 with a turnover of 443 million
tons.
Shanghai Port has handled more than 20 million TEU (twenty-foot
container equivalent units) so far this year.
Insiders say the development of the Yangshan deep water facility
has boosted the port.
Yangshan is an important bargaining counter for Shanghai Port to
form an annual handling capacity of 30 million TEU.
The ongoing third-phase of the Yangshan Port has drawn
investment intentions from several overseas ports and shipping
enterprises, including Hutchison Whampoa Limited, Maersk Group, and
PSA International.
The port is on the East China Sea and is linked to the
Chinese?mainland by a 32.5-kilometer bridge. Yangshan boasts a
depth of 16 meters, double the city's old ports, which is enough to
accommodate the world's largest container ships.
(Xinhua News Agency December 27, 2006)
