Hong Kong Port Cargo Throughput Drops by Near 14% in 2015

File photo taken on Feb. 5, 2016 shows the Kwai Chung container port in Hong Kong, south China.

The total port cargo throughput of Hong Kong has seen a sharp decrease of 13.8% in 2015, amounting to 256.6 million tonnes, according to the Hong Kong Census and Statistics Department. It is the biggest year-on-year drop in the past 10 years.

Within this total, inward port cargo decreased by 17% to 152.8 million tonnes, while outward port cargo decreased by 8.6% to 103.8 million tonnes.

According to Sunny Ho, Executive Director of the Hong Kong shippers' Council, the sluggish global economy is one of the main reasons to blame. “Maritime Industry relies heavily on trading," Ho said. However, the international trade is now in a difficult situation when purchasing power is weak and economic recovery is slow in Europe, and currencies largely devalued in Asia Pacific countries like Japan, South Korea, Australia and New Zealand.

Apart from economy, port congestion problem and the rise of Chinese mainland’s shipping industry have also contributed to the sharp fall of Hong Kong’s port cargo in 2015.

Gilbert Feng, Assistant Director of Hong Kong Shipowners Association, points out that new markets are needed to boost Hong Kong's maritime industry. Hong Kong's maritime industry should transit towards a direction of high-value areas, such as maritime insurance, financing, legal service and training, Feng said.