Shanghai Port to raise container tariffs

Shanghai International Port Group will raise container tariffs at its ports from the beginning of next year which should boost annual revenues by US$119 million.
The fees at Waigaoqiao port will be increased by 10 percent to $74 per TEU, while those at Yangshan port will rise 21 percent to $69 per TEU.
Citigroup estimates the price rises will lift the 2008 profit of China Merchants by $26.5 million.
By that time, Shanghai will be the busiest container port in the world, price rises notwithstanding.