Shanghai overtakes Hong Kong as world's No.2 port
19 April 2007
Shanghai has overtaken Hong Kong as the world's busiest port behind Singapore, the South China Morning Post reported. First quarter throughput figures showed that Shanghai had posted a 28% year-on-year gain as it handled a total of 5.88 million 20-foot equivalent units (teu) to Hong Kong's 5.5 million teu, a rise of just 2.3%. Shenzhen throughput was up 8.2% to 4.26 million teu. According to data released by the Hong Kong Port Development Council, the port saw a 14.4% decline in throughput in March, following increases of 5.4% and 14.2% in January and February, respectively. Hong Kong is increasingly losing business to Shenzhen as industrial plants move from the former British colony to the Pearl River Delta area. Meanwhile, Shanghai Port is seeing bumper growth thanks to its location at the mouth of the Yangtze River Delta.