Port of Shanghai operator, Shanghai International Port Group (SIPG), has recorded a massively higher net profit in 2014 when compared to 2013, as well as recording the highest TEU throughput for the year of 2014.
According to Seatrade Global, SIPG recorded a profit of US$1.08 billion, a 27% increase from 2013. Revenue has also crept up by 1.9% year-on-year.
SIPG also confirmed an annual box throughput of 35.29 million TEU in 2014, up 4.5% from 33.77 million in 2013.
To read a countdown of the world's busiest ports, click here
The Port of Shanghai has managed to maintain its position as the world’s busiest port for the fifth consecutive year. Shanghai has been the world’s busiest port since 2010 when its annual volumes surpassed that of Singapore.
Singapore lagged behind the Port of Shanghai in 2014 by more than 4 million TEU, having only reached 30.96 million TEU in the first 11 monts of 2014.
Shanghai recently announced a plan to offer cold-ironing services at its port, which aims to help more than 50,000 ships that dock at the port annually.
Top Year for Top Port. (Source: Wikipedia)
