Despite being the World’s Largest Container Port (in throughput) Shanghai is struggling to become a leader in shipping services also.
Trailing behind the world’s leaders in services isn’t where the port wishes to be, hoping that within five years they can join the big guns to become one of the leaders of the pack.
So which ports are Shanghai up against?
- Hong Kong
The rapid growth of the Chinese economy helped drive up Shanghai’s throughput numbers. But size isn’t everything when it comes to shipping services.
“Just by handling the largest volume in the world doesn’t necessarily make it the best place from the shipping companies’ perspective,” Parash Jain, a Hong Kong-based shipping analyst at HSBC Securities Asia Ltd., said. “On maritime services, Shanghai has miles to cover in terms of ship registration, shipping brokerage, ship management, financing and bunkering.”
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