Container turnover of Port of Hong Kong decreased by 9.3% yoy in April 2016

Port of Hong KongThe container turnover of Port of Hong Kong decreased by 9.3% yoy in April 2016 and amounted to 1.6 million TEU. The volume of container handling in the port is seriously decreasing since the beginning of the year and delays against the other major port in Asia, due to the gradual removal of restrictions on cabotage shipping in China. The legal changes in Chinese maritime laws, enabled shippers to reorient transshipment ports and to optimize their routes. During the period January-April 2016, the port statistics show a decrease of container turnover by 11.2% yoy to 5.9 million TEU.

For comparison the turnover of Chinese Shanghai port, which is the largest container port in the world, in April 2016 amounted to 3.12 million TEU (+0.25% yoy) and since the beginning of the year dropped by only 1.1% yoy. Port of Singapore, which is second largest container port in the world, decreased by 3.9% yoy to 2.53 million TEU in April 2016, while for period January-April 2016 the drop was 7.8% yoy.

Port of Hong Kong, located by the South China Sea, is a deepwater seaport dominated by trade in containerised manufactured products, and to a lesser extent raw materials and passengers. There are currently nine container terminals situated at Kwai Chung, Stonecutters Island and Tsing Yi. Substantial container throughput is handled by the River Trade Terminal at Tuen Mun and by mid-stream. Port of Hong Kong is the world’s fifth largest and busiest container terminal in the world. In 2015, the port handled 20.0 million TEU, which is 9.7% less than the result an year ago.