Shanghai overtakes HK as world's second busiest container port
According to first-quarter throughput data released by the Hong Kong Port Development Council, Shanghai has overtaken Hong Kong's position as the world's second busiest port behind first-placed Singapore.
The mainland Chinese port of Shanghai outperformed Hong Kong by 380,000 twenty-foot equivalent units (TEUs) in this year's first three months.
Hong Kong port handled 5.5 million TEUs in the first quarter while Shanghai moved 5.88 million TEUs.
According to preliminary estimates from the Maritime and Port Authority of Singapore (MPA), Singapore handled 6.6 million TEUs in the first quarter, more than any other port in the world.
Analysts expect Hong Kong, Shanghai and Singapore to remain in the third, second and first place respectively for the rest of the year, news reports said.
Hong Kong had lost its position as the world's busiest port in 2005 when Singapore outperformed it. Now Hong Kong has been overtaken by Shanghai, and the booming Shenzhen looks poised to do better than Hong Kong by 2008.
Hong Kong is being overtaken by mainland ports as the city's industrial plants have moved across the border and further up the Pearl River Delta, where exporters are increasingly choosing Shenzhen as their port of call.
In fact, Hong Kong International Terminals, the largest port operator in Hong Kong, constructed a container terminal in Yantian in 1994 to capitalise on the movement of shipments to Shenzhen.
In the case of Shanghai, the past five years has seen cargo handling at the port more than double. Rapid development of the Chinese economy and the large industrial and trade base of the Yangtze River Delta region have propelled such growth.
Supporting this growth has been the construction and development of the $2.3 billion Yangshan deepwater port, which has been developed to allow deep water access at Shanghai to accommodate the world's largest vessels.
Vice President of the Shanghai International Port Co Ltd (SIPG) Huang Xin was reported saying that the port will have a container handling capacity of 34 million TEUs by 2010, due largely to the construction of Yangshan.
The first two phases of the project with 9 berths and an annual designed capacity of 4.3 million TEUs have been completed. Phase III, which will add seven new berths is designed to bring throughput capacity of to 15 million TEUs at Yangshan alone.
“It is only a matter of time before even Singapore gets overtaken by Shanghai or Shenzhen. Don't be surprised if it happens sooner than later,” said a local shipping journalist.
The mainland Chinese port of Shanghai outperformed Hong Kong by 380,000 twenty-foot equivalent units (TEUs) in this year's first three months.
Hong Kong port handled 5.5 million TEUs in the first quarter while Shanghai moved 5.88 million TEUs.
According to preliminary estimates from the Maritime and Port Authority of Singapore (MPA), Singapore handled 6.6 million TEUs in the first quarter, more than any other port in the world.
Analysts expect Hong Kong, Shanghai and Singapore to remain in the third, second and first place respectively for the rest of the year, news reports said.
Hong Kong had lost its position as the world's busiest port in 2005 when Singapore outperformed it. Now Hong Kong has been overtaken by Shanghai, and the booming Shenzhen looks poised to do better than Hong Kong by 2008.
Hong Kong is being overtaken by mainland ports as the city's industrial plants have moved across the border and further up the Pearl River Delta, where exporters are increasingly choosing Shenzhen as their port of call.
In fact, Hong Kong International Terminals, the largest port operator in Hong Kong, constructed a container terminal in Yantian in 1994 to capitalise on the movement of shipments to Shenzhen.
In the case of Shanghai, the past five years has seen cargo handling at the port more than double. Rapid development of the Chinese economy and the large industrial and trade base of the Yangtze River Delta region have propelled such growth.
Supporting this growth has been the construction and development of the $2.3 billion Yangshan deepwater port, which has been developed to allow deep water access at Shanghai to accommodate the world's largest vessels.
Vice President of the Shanghai International Port Co Ltd (SIPG) Huang Xin was reported saying that the port will have a container handling capacity of 34 million TEUs by 2010, due largely to the construction of Yangshan.
The first two phases of the project with 9 berths and an annual designed capacity of 4.3 million TEUs have been completed. Phase III, which will add seven new berths is designed to bring throughput capacity of to 15 million TEUs at Yangshan alone.
“It is only a matter of time before even Singapore gets overtaken by Shanghai or Shenzhen. Don't be surprised if it happens sooner than later,” said a local shipping journalist.