THE world's busiest container port of Shanghai is expected to retain its title for the third year running since it leapfrogged Singapore's container volumes in 2010.
In 2013, the Chinese port based at the mouth of the Yangtze river achieved total throughput of 33.6 million TEU, an increase of 3.4 per cent from 32.5 million TEU in 2012.
Its closest rival of Singapore, the Southeast Asia city based at the southern end of the Malacca strait, saw container volume stand at 29.8 million TEU in the first 11 months of 2013 but is yet to announce the total year results. It would need in excess of 3.8 million TEU volume in December to beat off Shanghai.
According to Shanghai Urban Construction and Communications Commission, the port is pushing through shipping-related policies under a new pilot free trade zone as well as research into the trading of freight index derivatives.
The city also hopes to refund shippers for those exported goods that use Yangshan as a transit by extending an existing tax rebate program.
Shanghai continues to benefit from the addition of two-way traffic lane in the main channel of the Yangshan Deepwater Port since October 2013.
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