Container turnover of Port of Hong Kong rose in October to 1.66 million TEU

Port of Hong KongThe container turnover of Port of Hong Kong rose in October by 12.4% yoy to 1.66 million TEU. The growth comes after the steady declining trend in cargo throughput of the terminal since July 2014. The Traffic through the main container terminals in Kwai Tsing District grew by 8.6% yoy to 1.33 million TEU, while through the other port terminals rose by by 30% yoy to 0.35 million TEU. The port is recovering from the downtrend in relation with the delay of Chinese economy and container shipping crisis, but still far away from the pre-crisis level. The positive trend was against the very low base from the year before when throughput had plunged by nearly a fifth on year-on-year basis

In total, from January to October this year, the port turnover amounted to 15.91 million TEU, and the gap from last year’s figures dropped to -5.9%. The good turnover result removed some of the different between 2015 and 2016, as decrease in the first nine months of 2016 (January to September) was -7.6%, while for the first half of the year (January to June) was -10.1%.

In 2015, the port of Hong Kong handled 20.0 million TEU, which is 9.7% less than 2014, and dropped to 5th place in the ranking of the largest container ports in the world, behind the Chinese port of Ningbo-Zhoushan, which is handled in 2015 20.6 million TEU. The container throughput of Shanghai Port on the results of 2015 amounted to 36.53 million TEU, which is 3.5% more than in 2014.

However, according to the analysts the removal of restrictions on cabotage between the ports of mainland China to foreign carriers could lead to a reduction in the Hong Kong container throughput of 2.4 million TEU, representing 14% of total port container terminals.