Shanghai: The New Global Shipping Leader?

Shanghai has announced that it is looking to become the leading global shipping hub by the year 2020 through higher throughput capacity of cargo, according to China Daily.

The Port of Shanghai is also set to reach an annual throughput capacity of 42 million TEU, and thereby hold its reign as the world’s largest port.

Zhang Lin, deputy director of the Shanghai Municipal Transportation Commission, said: “The under construction of the fourth phase of Yangshan Deep-water Port is an automated terminal project, which will be put in trial production by next year [2017], with an extra four million TEU.” 

PTI previously reported that China’s Port of Shanghai had widened the container gap with the Port of Singapore, which is currently the second busiest port, by five million TEU.

China’s ports could also be set to hit a ‘turning point’ in 2016 due to a potential swing from profits to losses in times of more severe port overcapacity.