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Hong Kong port faces shrinking box volumes for 12th month

Time：2015-07-23 Browse：146 Author：RISINGSUN
HONG KONG`s port has experienced falling container volumes for the 12th month in a row after throughput declined to 1.7 million TEU in June, down from 1.9 million TEU handled the same month a year earlier. 

The world`s top two box ports are now Shanghai and long-term rival Singapore.

In April Hong Kong year-on-year throughput plunged by 11.7 per cent owing to a shrinking trucking segment, and higher transshipment volumes and barge traffic at the port, according to IHS Maritime 360.

Terminals operated by Hutchison Port Holdings at Kwai Tsing suffered the biggest dive, with a drop in volume of 14 per cent registered, reported UK`s Port Technology International.

In contrast, the port of Shanghai`s throughput was up 4.4 per cent in the first half, after handling a total of 35 million TEU in 2014.

Despite this considerable drop in container volumes at the port of Hong Kong, China`s mega-ports are anticipated to see throughput grow by six per cent annually between now and 2020. This will, presumably, take place against the backdrop of super container hubs envisioned for Qingdao, Shanghai and Hong Kong.

More than 95 per cent of China`s coastal ports are expected to consolidate their resources with other ports through strategic co-operations and capital injection, the report added.