Shanghai will upgrade its pilot free trade zone to a full free port according to local officials at this week’s National Party Congress. That raises the prospects for further activity growth for the port, which has expanded by 8% year-to-date. However, there may simply be cannibalization of volumes from regional competitors, with Ningbo-Zhoushan having grown by 12%. Assuming the volume of trade grows, rather than simply being reallocated, there will be an opportunity for container-lines to increase their shipments. The current leading shippers on Shanghai-to-U.S. routes are CMA-CGM (15% ...