China’s Shanghai International Port Group (SIPG) retained its top position as the world’s busiest container port for the ninth consecutive year. The port recorded 42.01 million TEU throughput in 2018, an increase of 4 per cent compared to 40.23 million TEU posted in the previous year, reaching a record high. The port achieved CNY10.28 billion (US$1.52 billion) net profit last year, Seatrade Maritime News, Colchester, UK quoted as saying.

The port’s improved performance was attributed to the recovery in the global economy, the nation’s increasing import and export business coupled with improving service capability and efficiency, SIPG stated in its 2018 performance brief report. The world’s second largest container port Singapore reported an 8.7 per cent growth in container volumes to reach 36.6 million TEU last year.

© Pakistan Press International, source Asianet-Pakistan