Wang speaks more on the risk Shanghai is taking by developing
a new port on the Yang Shan Islands.
Shanghai municipal government, or even the central government
in China or the Ministry of Communication, they believe
that once we set up a good hub, this kind of transshipment
will increase naturally. But actually, according to,
it's my understanding, and there are many others that,
actually, in this market, shipping lines play a dominant
role. They decide where they do the transshipment. And
it's easily [the case] that the transshipment hub will
really be relocated from one port to another.
happens in other places, like in Singapore, one major
shipping line -- the biggest shipping line in the world,
shifted their transshipment hub to Malaysia. [Malaysia
has] a new port…that port gives a big discount and also
gives some shares to the shipping line. So the shipping
line left Singapore. The same situation happened in
Rotterdam. And also it's possible to be the case in
Hong Kong. So the shipping line can go to Shenzhen without
stopping in Hong Kong.
the same situation may happen later on in Shanghai.
The shipping lines, major shipping lines may use a cheaper
port like Ningbo, because Ningbo doesn't need to build
up a new bridge; they have natural deep water, negative
22 meters without any problem. So, if some shipping
lines, before Shanghai builds up that new port in the
Deep Sea Islands, which take at least five years for
the first terminal, within this five years, many things
can happen. So if the shipping lines within this five
years set up their hub in another port, then Shanghai
is in trouble.