The cargo turnover of Shanghai port will exceed 500 million tons this year, making it the world's busiest for the second consecutive year, says Shanghai Port Administration.

It replaced Singapore port as the largest in terms of total cargo handling capacity in 2005 with a turnover of 443 million tons.

Shanghai Port has handled more than 20 million TEU (twenty-foot container equivalent units) so far this year.

Insiders say the development of the Yangshan deep water facility has boosted the port.

Yangshan is an important bargaining counter for Shanghai Port to form an annual handling capacity of 30 million TEU.

The ongoing third-phase of the Yangshan Port has drawn investment intentions from several overseas ports and shipping enterprises, including Hutchison Whampoa Limited, Maersk Group, and PSA International.

The port is on the East China Sea and is linked to the mainland by a 32.5-kilometer bridge. Yangshan boasts a depth of 16 meters, double the city's old ports, which is enough to accommodate the world's largest container ships.

(Xinhua News Agency December 27, 2006)