Hong Kong's container volume drops to third place in the world in the first half of the year

Hong Kong and Singapore both released their latest port statistics yesterday. The container throughput of Hong Kong port in the first half of this year was 11.548 million TEUs, an increase of only 2.5% year-on-year, while Singapore port recorded 13.47 million TEUs, an increase of 14.1%. On the other hand, the container volume of Shanghai Port and Shenzhen Port in the first half of the year was 12.515 million and 9.499 million TEUs respectively. Based on the semi annual statistical data of the four major ports worldwide, Shanghai Port University has the opportunity to surpass Hong Kong in terms of container volume throughout the year, becoming the world's second largest container port, and is more likely to challenge Singapore Port's leading position in the coming years. The performance of Hong Kong ports has been disappointing.

According to the Hong Kong Port Development Council, the cumulative throughput of Kwai Tsing Port Area in the first half of the year was 8.324 million TEUs, an increase of 12.2% compared to the same period last year, showing a stable performance. Outside the port area, including midstream operations, public unloading areas, and inland transportation, there has been a continuous decline, with a throughput of only 3.224 million TEUs, a year-on-year decrease of 16.4%. However, compared with the cumulative decline of 23.1% in the first five months, the downward trend has significantly slowed down. The total container throughput of Hong Kong ports in the first half of the year increased by 2.5% year-on-year to 11.548 million TEUs.

The number of containers outside the port area increased by 39% last month

On a monthly basis, the container throughput of Hong Kong ports in June was 2.059 million TEUs, a year-on-year increase of 18.8%. Among them, Kwai Tsing Port recorded 1.479 million TEUs, a year-on-year increase of 12.4%. Outside the port area, the container throughput in June was 580000 TEUs, a year-on-year surge of nearly 40% to 39%, marking the first significant increase in a single month this year and reversing the continuous decline in production since the beginning of the year. Industry insiders pointed out that the significant increase in Hong Kong port production in June is related to the reduction of export tax rebates for some goods by the mainland Ministry of Commerce and manufacturers rushing to pack and ship their products before the policy is implemented on July 1st. It is expected that the port statistics data for July will still be affected by this factor. However, Wang Miaosheng, the General Secretary of the Hong Kong Mid stream Operators Association, pointed out that the customer base of its member companies continues to decline. He expects that the container volume of mid stream operations in Hong Kong will still slightly decrease in the second half of the year compared to the same period last year, with a decline of about 5% for the whole year.

The number of star cabinets reached 13.47 million boxes, an increase of 14%

On the other hand, the Maritime and Port Authority (MPA) of Singapore announced that the container throughput for the first half of the year was 13.47 million TEUs, an increase of 14.1% compared to the same period last year, with 11.803 million TEUs. Among them, the terminals under the Singapore International Ports Group (PSA) handled a total of 13.04 million TEUs, an increase of 14.5% year-on-year. Jurong Port recorded 431000 containers.

In terms of ports in mainland China, the container volume of Shanghai Port maintained high growth, reaching 12.515 million TEUs in the first half of the year, which is 1 million TEUs higher than Hong Kong and a significant increase of 24.1% year-on-year. Shanghai International Port Group Chairman Lu Haihu previously expected that the port's container volume is expected to exceed 25 million TEUs this year, ranking second in the world. As for Shenzhen Port, which is adjacent to Hong Kong, the cumulative container volume in the first half of the year was 9.4994 million TEUs, a year-on-year increase of 13.77%.

Based on the half year statistics of the four major ports in the world, Hong Kong is the only port that has recorded low growth. Despite the industry's "struggling" situation, the growth rate is only 2.5%. Among the three major ports in the Pearl River Delta region, the growth performance is the worst. Guangzhou Port's growth rate in the first half of the year reached 42%, the highest in the region. Among the top four ports in the world, the remaining three ports maintained double-digit growth, with Shanghai Port lagging behind its competitors with an increase of nearly 25%. If the container volume of each port continues the trend of the first half of the year in the second half of the year, Singapore Port will win the title of "World's Largest Container Port" for three consecutive years, while Shanghai Port will occupy the second place. Hong Kong will fall one level further to third place, and the gap in container volume with Shenzhen Port will gradually narrow. (Ta Kung Pao News)