Shanghai—the world’s busiest container port—saw its box handling volume hit another record high in 2018, according to the main port operator.
According to an exchange filing from Shanghai International Port Group (SIPG), Shanghai’s container volume grew to 42.01 million teu last year from 40.23 million teu in 2017.
Total cargo throughput remained flat at 561 million tonnes in the same timespan.
“The global economy was on a recovery track in 2017 and China’s international trade was showing stable growth,” Shanghai-listed SIPG said in the filing.
“Our container volume reached yet another historical high, and Shanghai was the world’s largest container port for nine years running.”
Singapore, the world’s second largest container port, recorded volume of 36.6 million teu in 2018—up 8.7% on year.
Unaudited results showed operating revenues of SIPG increased to CNY 38.15bn ($5.64bn) in 2018 from CNY 37.42bn in 2017 while expenses rose to CNY 26.32bn from CNY 24.81bn.
Net profits of the company decreased to CNY 10.28bn from CNY 11.54bn.
