HONG KONG - 18/11/2014: Singapore handled 2.97 million 20-foot containers in October, continuing a healthy month-over-month increase that leaves the worlds second busiest container port on track to beat last years throughput. October volumes climbed 5.3 percent year-over-year, following on from a solid 5.7 percent increase in Sept. when 2.8 million containers were handled, the Maritime and Port Authority of Singapore (MPA) said in a statement. The port throughput tally from Jan. through Oct. was 28 million TEUs, up 3.6 percent that saw a million more containers crossing its wharves compared to the same period last year.
But the Southeast Asia transshipment hub remains almost 1.5 million TEUs behind the world leader, Shanghai, in the year-to-date as the port has benefited from a surge in Chinas foreign trade. According to the Shanghai International Port Group (SIPG), container throughput for the 10 months reached 29.47 million TEUs, a growth of 5.4 percent year-over-year. Throughput accelerated in the third quarter with the port handling just over 3 million TEUs in Sept. and 3.02 million boxes in Oct., up 7.5 percent compared to the same month last year. Data from Citi Research reveals that foreign trade at the top seven ports in China, excluding Qingdao, grew 7.4 percent compared to Oct. last year, following on from Sept. growth of 11.3 percent year-over-year.