Shanghai could overtake Singapore as the world's largest container port with a 15 percent throughput rise this year.
Chen Shuyuan, president of Shanghai International Port Group Co (SIPG), operator of China's busiest container port, said throughput would exceed 30 million TEUs in 2008, boosted by Yangshan port's third-phase expansion.
With container volume of 26.15 million TEUs last year on the back of over 20 percent growth, Shanghai surpassed Hong Kong for the first time in 2007 to become the world's second largest container port, behind Singapore.
Singapore remains the world's biggest container port with 27.9 million TEUs, up 12.7 percent.
SIPG also plans to invest about US$633 million in expansion this year - excluding investment in the Yangshan project - with $281.48 million to be spent on adding berths.
"It's not surprising we overtook Hong Kong, given the size of the mainland," said Chen, an NPC deputy. "The ports in Hong Kong and Singapore have advantages in natural resources and better policies, and we still need to learn better technology and expertise on management and services from Hong Kong and Singapore."
Although there are signs of a US economic recession and anticipation China's exports will slow, Chen is upbeat on port growth this year. He expects foreign trade growth of 20 percent in the Yangtze River Delta region - higher than the 15 percent national average.
Chen said the port group might try to bring in foreign investors and strategic partners to help develop its container business, improve management and technology during Yangshan's third-phase development.
SIPG's deal with AP Moeller-Maersk Group to set up a venture to develop the port of Zeebrugge in Belgium is expected to produce good results this year. SIPG will hold 40 percent of the venture.
It expects total cargo volume, including non-container traffic, to rise between eight and 10 percent this year, Chen said.
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