Shanghai Set to Break Through 50 Million TEU Mark in 2024

The combined container operations in the port of Shanghai are set to become the first port to handle more than 50 million TEU in a year city officials reported on Tuesday. It reflects China’s continued efforts to grow global exports and is the next step in a plan that projects the port will handle 65 million TEU by 2035.

This year is set to become the fourteen consecutive year that Shanghai has ranked as the world’s largest port. It surpassed Singapore in 2010 and has continued to grow its lead handling 26 percent more container volume in 2023 versus Singapore which continues as the world’s second-largest port. Shanghai in 2023 handled 49.16 million TEU having increased volume by 1.7 million TEU or 3.6 percent.

“Shanghai will become the world’s first city to break through the 50 million TEU threshold,” Mayor Gong Zheng told the North Bund Forum reports the South China Morning Post. The paper quotes the city officials and China’s Ministry of Transport which are hosting the forum saying that they will continue allocating resources to build Shanghai into an international shipping center.

At the end of the first nine months of 2024, they reported Shanghai had handled just over 39 million TEU. This is an eight percent increase versus last year and has been reflected in the reports from global ports and the increases in container volumes.

The southern California ports of Los Angeles and Long Beach for example have each reported record volumes in recent months. Gene Seroka, Executive Director of the Port of Los Angeles attending today’s conference highlights that 45 percent of the volume at the port comes from China.

Officials hosting the conference which is designed to promote global trade reported a new memorandum of cooperation between Shanghai and the ministry to continue to build Shanghai as the world’s leading international shipping center. They said efforts would focus on upgrading shipping services and promoting green and smart shipping. They pointed to the scheduled 2025 launch of a plant capable of providing 70,000 to 100,000 tonnes of green methanol from food waste as one example of green initiatives. They also predicted that Shanghai would lead in digitalization for the shipping industry.

Expansion is continuing within the three main areas, Yangshan, Waigaoqiao, and Wusong, which make up the Shanghai port complex. The port has a total of 49 container berths, 176 container gantry cranes, and a container yard of 7.58 million square meters (nearly 1,900 acres).

Officials pointed to automation according to the South China Morning Post report as a key factor in the continuing growth of the port. The story highlights the use of “hundreds of automated vehicles” which are used for the loading, discharge, and transport of containers around the clock.

Last year, China had five of the top six busiest ports in the world. In addition to Shanghai, Ningo-Zhoushan handled more than 35 million TEU. Combined those five ports handled more than 168 million TEU in 2023.