Friday, December 23, 2011

Shanghai remains world's busiest container port -gov't

Larger Smaller Reset SHANGHAI (Dec 23): China's financial hub, Shanghai, has remained the world's busiest container port for a second year, the city government said on Friday.

The port saw its container throughput hit a record of 30 million standard 20-foot units this year, after it become the No.1 container port and handled 29.07 million units last year, boosted by international trade, the government said in a statement on its website.

The city aims to become an influential financing and shipping hub by 2020 and has rolled out a number of financial products to help exporters and shipping companies manage growing volatility in freight rates.

The Shanghai Shipping Exchange plans to expand its shipping derivatives market over the next few years after it launched derivatives based on container freight this year. - Reuters

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