Port of Shanghai declines 11pc to 25 million TEU in 2009

THE latest figures from Shanghai International Port Group (SIPG), operator of the Port of Shanghai, show that the port lifted 25 million TEU in the year of 2009, down 11 per cent compared to the 28 million TEU handled in 2008.
In December, the port recorded the 2009`s first monthly increase of 7.1 per cent to 2.4 million TEU, Xinhua reported.
Being the largest container port in China, Shanghai`s throughput is closely related to the performance of China`s foreign trade. According to customs statistics for December, China achieved trade value of US$243 billion, up 32.7 per cent year on year. Export value rose for the first time since November 2009 by 17.7 per cent to $130.7 billion.
Transport Ministry officials predicted that China`s container throughput in 2009 would decrease seven per cent to 120 million TEU. Experts pointed out that Shanghai is heavily reliant on foreign trade cargo as its decrease was wider than the national rate.
Singapore handled 25.9 million TEU in 2009, down 13.5 per cent, continuing to be the world`s largest container port, and the gap between Shanghai and Singapore has narrowed to less than 1 million TEU.