SIPG profits up 27% in 2008

The Shanghai International Port Group, the state-owned entity that operates the Port of Shanghai, reported a 27 percent net profit increase in 2008, to $674 million, Reuters reported.

   As reported on American Shipper.com Tuesday, container volume through Shanghai increased 7 percent in 2008. The financial information was filed this week with Shanghai Securities News. Despite what would appear to be solid growth in a difficult year, the throughput and revenue projections fell short of SIPG's goals at the beginning of 2008.

   The profits, it should be noted, are unaudited.

Source: American Shipper