Shanghai Port Posts Rise in Net Profits in 2010

12 January 2011 (Last Updated January 12th, 2011 18:30)

Shanghai International Port in China saw a 43.6% rise in its net profits for 2010, due mainly to increased cargo throughput. It made a net profit of CNY5.4bn ($815m) in 2010, up from CNY3.76bn ($554m) the previous year. Net revenues increased by 14.6% to CNY18.97bn ($22.8bn).

Shanghai International Port in China saw a 43.6% rise in its net profits for 2010, due mainly to increased cargo throughput.

It made a net profit of CNY5.4bn ($815m) in 2010, up from CNY3.76bn ($554m) the previous year.

Net revenues increased by 14.6% to CNY18.97bn ($22.8bn).

The port’s cargo throughput for 2010 was 428 million tons, an increase on 265 million tons in 2009, according to Reuters.

Shanghai has surpassed Singapore to become the world’s busiest port, registering the highest container traffic last year with 29.05 million teu.