Official: Shanghai port to see 10 percent growth in TEUs

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SHANGHAI, Mar. 24 – The container throughput of Shanghai’s seaport is expected to see stable growth of about 10 percent a year until 2010, said a port administration official at the China Ports Future Forum in Shanghai on Friday.

This projected growth is attributed to the booming economy in the Yangtze River Delta and preparations for the 2010 Shanghai World Expo said the director-general of the municipal port administration, Xu Peixin.

According to Xu, “high value-added port services will be the key focus, supported by the government’s investment and financial policies” for future development of the port.

According to statistics published by China Daily, container throughput at the port rose to 560 million tons last year, up 4.2 percent from 2006. Last year Shanghai’s cargo shipments increased by 26.15 million TEUs, moving it passed Hong Kong as the world’s second-largest container seaport after Singapore.

Xu said forward-looking policy measures for the port will include a more diversified investment strategy to enhance its competitive edge.