Hong Kong falls from global top 5
AFP reports that Hong Kong fell to seventh place for TEU in 2018, being the first time that the port falls from the global top 5. Neil Davidson, a specialist at Drewry Shipping Consultants, commented that it was the first time Hong Kong had fallen below the top five threshold since they first began compiling global port data in 1979.
AFP reports that Hong Kong fell to seventh place for TEU in 2018, being the first time that the port falls from the global top 5. Neil Davidson, a specialist at Drewry Shipping Consultants, commented that it was the first time Hong Kong had fallen below the top five threshold since they first began compiling global port data in 1979.
Specifically, Hong Kong follows Shanghai, Singapore, Ningbo, Shenzhen, Guangzhou and Busan in the top-ten busiest port list.
Mainly, Shenzhen and Guangzhou are both direct competitors, located just to the west in one of China's most concentrated manufacturing regions. Qingdao and Tianjin are just behind Hong Kong in the rankings.
According to AFP, Hong Kong port was displaced from the top spot by Singapore in 2000s and then was placed third after Shanghai being the leader in 2010.
The dominance of mainland Chinese ports for direct shipments from China's factories is experience a decrease in Hong Kong's transshipment business within east Asia, and the competitiveness of nearby ports in the Pearl River Delta has directly siphoned off business.
Because of the market pressure, Hong Kong's private terminal operators formed a consortium to better-manage their facilities.
Yet, the consortium has many opposing to it as it is thought to be 'monopoly-based' and anti-monopoly regulators support that in this case it would control more than 90% of the port's container handling business.
