Diana Shipping entered into time charter contract for m/v Thetis

Having taken its place as the world’s leading container port in 2010 with a throughput of 29 million teu, Shanghai now has its eye on domination of the bulk and breakbulk market.


Speaking to the third annual Breakbulk Asia Transportation Conference and Exhibition in Singapore on Wednesday, Shanghai International Port Group deputy general manager Yuan Jinghua said bulk cargo throughput had surged 22% to 0.152 million metric tons in 2010.


Yuan said that growth would be subdued compared to the strong recovery in 2010 but Shanghai International Port Group was looking forward to handling 3% to 5% annual growth in breakbulk and bulk exports over the next five years. “Project cargoes, complete equipment and steel will be the contributing factors in the continuing growth of export cargoes,” he said.


Yuan said imports of iron ore, coal and timber would grow swifter over the five-year period at 5% to 8% as domestic demand soared.


SIPG’s net profits grew 43.5% to Yuan5.4 billion ($812.5 million) in 2010.
(Source:http://www.breakbulk.com)