Shanghai Port to raise container tariffs

Shanghai International Port Group will raise container tariffs at its ports from the beginning of next year which should boost annual revenues by US$119 million.

The fees at Waigaoqiao port will be increased by 10% to $74 per TEU (a standard container), while those at Yangshan port will rise 21%to $69 per TEU.

Citigroup estimates the price rises will lift the 2008 profit of China Merchants by $26.5 million.

By that time, analysts believe Shanghai will be the busiest container port in the world, price rises not withstanding.

To do that it will have to pass Hong Kong and the current leader, Singapore. Whether the increase in pricing will affect the rise and rise of Shanghai International Port has yet to be shown.

Source: CargoNews Asia