Shanghai port may overtake HK in 2007

Analysts expect Shanghai to overtake Hong Kong as the second-busiest container port in the world by the end of 2007. Hong Kong lost the top spot in 2006 to Singapore's port, largely due to more competition from China ports that charge lower handling fees, the Wall Street Journal reported. In the 1990s, Hong Kong handled more than 90% of all cargo from the Pearl River Delta but that has fallen to about 50%. However, container traffic through the Hong Kong port rose 2.8% in 2006 to 23.23 million 20-foot equivalent units (teu). The growth rate did not change from 2005 but is down from a 7.2% average in the three preceding years. Meanwhile, throughput through Shanghai, the world's third busiest port, rose 20.1% in 2006 to 21.72 million teu while output in Shenzhen rose 14% to 18.47 million teu. In Singapore, throughput hit 24.79 million teu, up 6.9%.