SHANGHAI overtook Singapore to become the world's biggest container port in August on a strong recovery in exports, according to the local port authority.
"August is the prime season for exports, and the strong demand significantly pushed up the container throughput," said Wu Minghua, an independent market watcher. "Shanghai is bolstered by robust demand across the Pacific Ocean."
Shanghai's container turnover jumped 20.7 percent year on year to a record 2.64 million TEUs (20-foot equivalent units) last month. In the first eight months, 19.06 million TEUs were handled, according to Shanghai General Station of Exit and Entry Frontier Inspection.
Container volume in Singapore fell 4 percent to 2.43 million TEUs in August and stood at 19.01 million TEUs from January to August.
Local port authorities attributed the record throughput to China's rebounding exports. The country overtook Germany as the world's largest exporter in 2009. China's exports rose an annual 34.4 percent to US$139.3 billion in August.
Shanghai's trade expanded 39.3 percent on an annual basis to US$235.5 billion in the first eight months, with exports up 33.1 percent from a year earlier to US$115.5 billion.
The State Council, China's Cabinet, has drafted guidelines to build Shanghai into an internationalshipping hub by 2020. These measures include trial programs for business tax exemption for shipping companies, incentives for setting up a ship trading brokerage system and encouraging partnerships between insurance companies and shipping enterprises.
Waigaoqiao port remained the city's busiest with throughput up 14.1 percent to 1.33 million TEUs in August.