Report reveals strong annual Shanghai shipping figures

A new report on Shanghai's shipping sector has revealed an encouraging set of annual operating figures and also highlighted various issues, particularly regarding the city's free trade zone launched in September last year, which are being addressed as it closes the gap on international rival hubs such as London and Singapore.

The Shanghai International Shipping Center Development Blue Book is the first annual review of the city's shipping industry and includes details on financing, shipbuilding, port services, legal services, insurance and cruise lines operations.

The book reveals Shanghai's overall cargo handling capacity, for instance, expanded to 776 million metric tons by the end of last year, a 5.5 percent year-on-year increase, and predicts a similar rise this year.