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SIPG records improved earnings for 2016

China’s Shanghai International Port (Group) Co (SIPG) has achieved improved earnings for 2016, with Shanghai port retaining its crown as the world’s busiest container port.

Lee Hong Liang, Asia Correspondent

March 29, 2017

1 Min Read

Kalyakan - stock.adobe.com

Net profit for SIPG was recorded at RMB6.94bn ($1bn), up 5.7% compared to the profit of RMB5.56bn in 2015.

The port operator’s full year revenue rose by 6.3% year-on-year to RMB31.36bn.

The higher earnings were aided by growth in container throughput as Shanghai port registered volumes of 37.13m teu last year, representing a slight 1.6% increase from the volumes of 2015.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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