Still top, Shanghai's 2012 box volume rises 2.5pc to 32.5 million TEU

THE Port of Shanghai - the world's biggest container port - has posted a 2.5 per cent year-on-year increase in box volume to 32.5 million TEU in 2012, but also recorded a flat 502 million tonnes in overall cargo against 2011's figure.

"Shanghai International Port Group [SIPG] has made a concerted effort to overcome the global economic slowdown, achieving its annual operational target, while maintaining a stable increase in quality and a wholesome financial position," said the statement from the company.

SIPG is 41 per cent state-owned with a 24 per cent stake held by Hong Kong's China Merchants Group. Shanghai-listed SIPG posted a year-on-year net profit increase of 4.2 per cent to CNY4.9 billion (US$773 million), drawn on CNY28.7 billion, up 32 per cent. The revenue surge was attributed to new value-added taxes.