Singapore has admitted Shanghai could leapfrog the city state as the world's busiest container port this year, buoyed by China's strong trade growth.
Teo Chee Hean, Singapore's deputy prime minister and defence minister, said: 'Many Asian ports like Shanghai are consequently enjoying strong growth. Fuelled by China's burgeoning domestic economy and strong export competitiveness, we will not be surprised if Shanghai overtakes us as the world's busiest container port this year.'
Container volumes through Shanghai climbed to 19.06 million teu (20-foot equivalent units) in the first eight months of this year.
Singapore by comparison saw a 13 per cent increase in box volumes to 19.01 million teu. Based on box volumes so far this year and a strong 21 per cent rise in container throughput in August, Shanghai is on course to handle around 31 million teu this year.
Singapore is likely to handle about 30 million teu.
Shenzhen is also set to overtake Hong Kong as the world's third-busiest box port after strong growth in box volumes in the first eight months of this year. Port watchers forecast that Shenzhen could handle about 28 million teu this year compared with Hong Kong's full-year total of about 24 million teu.
'If the massive 20-plus-percentage increase in container volumes seen at Shenzhen over the past couple of months continues for the rest of this year, then it's conceivable Shenzhen might even overtake Singapore to take second place. It's an outside chance, but it's there,' one industry source said.
