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Shanghai Port container volume up 3.4 pct in May
Container volume at Shanghai Port rose 3.4 percent in May from a year earlier, down slightly from 4 percent growth in April, data issued by the port’s operator showed on Friday. Container throughput reached 2.94 million twenty-foot equivalent units (TEUs), up slightly from 2.83 million in April and compared with 2.84 million in May 2012. The numbers are watched by investors for clues on China’s trade figures. China’s exports are forecast to have climbed 7.3 percent in May compared to a year earlier, halving from April’s 14.7 percent growth, according to a Reuters poll. Imports are expected to have risen 6 percent in May, about a third of the growth seen in April.Shanghai overtook Singapore to be the world’s busiest container port in 2010 and surpassed 30 million TEUs in 2011, a record high at the time. It has maintained pole position, finishing 2012 ahead of Singapore, which posted 31.6 million TEUs, according to data from the Maritime and Port Authority of Singapore. (Reuters)
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