Hong Kong’s container throughput global ranking ‘may fall to No 10 in 2023’

This was decrease than 16.68 million teus town dealt with in 2022, and 14.45 million teus dealt with by Rotterdam, which ranked No 10 in 2022 based on Marine Division knowledge.

TEU refers back to the dimension of an ordinary transport container, which measures 20 toes (6 metres) lengthy.

Utilizing the calculation technique utilized by main transport publication Lloyd’s Listing, Lam estimated that town’s container throughput rankings would slip to No 10 in 2023, one place decrease than in 2022.

“Whereas some might concentrate on the declining development, I imagine it’s essential for us to grab the chance to consolidate and develop some great benefits of Hong Kong’s port and this has additionally been the continuing path of the Transport and Logistics Bureau’s efforts,” Lam wrote.

The 2023 world’s rankings of container ports was anticipated to be revealed in the midst of this 12 months, he mentioned.

Since overtaking Singapore in 2010, the world’s high port by way of container throughput has been Shanghai, based on knowledge from the division.

Lam famous in his weblog that the federal government had been enhancing the competitiveness of Hong Kong’s port, aiming to make it “inexperienced” and “sensible”.

Hong Kong plans to develop ports into main worldwide maritime centre

Citing the federal government’s Maritime and Port Growth Technique Motion Plan, he famous that measures included growing Hong Kong into “a high quality inexperienced maritime gasoline bunkering centre”, in addition to selling the event of a “sensible port” via using a digitalised port group system.

Simon Lee Siu-po, an honorary fellow on the Asia-Pacific Institute of Enterprise on the Chinese language College of Hong Kong, mentioned that the principle trigger for Hong Kong’s decline in its container throughput is because of competitors from ports in mainland China by way of value and comfort.

“Factories there can use Shanghai, Shenzhen, Ningbo … as a substitute of Hong Kong. It’s laborious to vary the scenario as, once more, prices are excessive in Hong Kong,” he mentioned.

Lee famous that the federal government may solely increase its rankings by one or two spots via lowering prices and growing the comfort for its customers, however it could be extraordinarily tough as competitors amongst ports may be very eager.

Of the world’s high 10 ports by way of throughput ranked by the Marine Division in 2022, six are positioned in China: Shanghai, Ningbo-Zhoushan, Shenzhen, Qingdao, Guangzhou and Tianjin.

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Professor Terence Chong Tai-leung, govt director of the Chinese language College of Hong Kong’s Lau Chor Tak Institute of World Economics and Finance, agreed that prices introduced a problem for town in comparison with the mainland.

He added that the mainland additionally had extra land obtainable for growth.

“It might not be potential for our rankings to return up, as we’re constricted by way of dimension, until we resolve to construct a brand new port and several other extra berths,” Chong mentioned. “As China and different international locations will constantly construct ports … there’s not a lot level for us to compete by way of throughput.”

He recommended that authorities as a substitute focus their targets on the worth of the cargo coming to town as a substitute of amount, in addition to using inexperienced and progressive expertise to assist Hong Kong keep aggressive.