The world’s largest container port, the Port of Shanghai, is getting busier, and has widened its TEU reign over Singapore by 5.6 million in 2015, according to .
There are currently nine Asian ports out of the top 10 which are situated in Asia, with China claiming seven spaces.
PTI previously reported that Singapore will stay rooted in second place in terms of the size of its container handling facilities, according to a report that was published by BMI Research.
The company said: “Despite an improving outlook for theport of Singapore, we nevertheless do not believe that the facility will manage to reclaim the number one position in terms of global container handling facilities over the medium term.
“For theport of Singaporeto retain its position as the premier Asian transhipment hub and battle theport of Shanghaifor first position, Singapore must continue to expand and keep up with shipping trends.”
This was followed by news that container volumes at the Port of Singapore had fallen for the fourth consecutive year as a result in a slump in Asia-Europe volumes.
Despite the sharp fall, Singapore since made a comeback in May, 2016, with volumes rising 1.6% compared to May, 2015.
However, on the whole, Chinese ports may set to swing from profits to losses amid recent news that port overcapacity could lead to financial loss.
