News:Asia

Shanghai records 1.6% rise in 2016 box volumes to 37m teu

Shanghai International Port (Group) Co (SIPG) has announced on Wednesday that Shanghai port has handled higher container volumes in 2016 over the previous year, retaining its crown as the world’s busiest container port.

The Chinese port moved another record high throughput of 37.13m teu in 2016, a climb of 1.6% compared to the previous record throughput of 36.54m teu in 2015.

Shanghai continues to be the world’s busiest container port, ahead of its closest rival Singapore port, which has handled 28.14m teu in the first 11 months of 2016.

In financial results, Shanghai-listed SIPG registered a full year net profit of RMB6.85bn ($989.3m), an improvement of 4% from the gain of RMB6.56bn in the previous year.

Revenue also rose by 5% year-on-year to RMB31bn on the back of the higher container throughput, SIPG announced.

Posted 11 January 2017

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