Shanghai takes lead as busiest container port

For the first time, Shanghai overtook Singapore as the world's busiest container port last year. Hong Kong retained its third spot but Shenzhen appeared to be catching up quickly.

Shanghai's container throughput rose 16.3 per cent to 29.1 million twenty foot equivalent units (teu) in 2010 while its cargo tonnage grew 17.3 per cent to 428.35 million tonnes, according to the website of Shanghai International Port Group (SIPG), the Shanghai-listed port operator of the city.

Announcing Singapore's preliminary port throughput figures on Thursday night, Raymond Lim, Singapore's minister for transport and second minister for foreign affairs, said: 'Our advanced estimates show Singapore's container throughput for 2010 was 28.4 million teu. This is an increase of about 10 per cent over 2009.'

Undeterred by losing the top position to Shanghai, Lim said: 'As a major transshipment hub, we are well positioned to capitalise on the growth momentum in Asia.'

Last year, Shanghai and Singapore were in a see-saw battle in terms of monthly container throughput. Singapore beat Shanghai in January, February, March and October, but Shanghai was ahead the other months. Finally, for the first time Shanghai overtook Singapore in annual container throughput.

Nomura's outlook for Shanghai's container throughput growth for this year is in high single digits, Nomura analyst Jim Wong said.