Once the world’s busiest port, the city now faces stiff competition from a slew of mainland Chinese ports.
Transport and Logistics Secretary Lam Sai-hung also acknowledged that Hong Kong has some catching up to do in terms of the technology for its port logistics.
But the figure is 14 per cent lower than that in 2022, and a 35 per cent drop from a decade earlier. A TEU, or 20-foot equivalent unit, measures cargo capacity in container ports.The latest container traffic data leaves Hong Kong trailing six ports in mainland China, as well as those in Singapore and South Korea’s Busan. Shanghai topped the ranking, while Singapore came in second.
“In comparison, Hong Kong is a big city with higher living standards. We can’t lower our costs, so we have to enhance our competitiveness.”Hong Kong aims to boost global edge with new Budget, but faces challenge in returning to glory days The next step towards creating a “green port”, Mr Lam said, is to “work out an action plan by the end of 2024” for methanol bunkering, currently seen as the most likely future fuel of choice after LNG.
It also contributes to the city’s trade and logistics industry, which accounts for more than 20 per cent of GDP and over 16 per cent of employment. “Implementing a common platform improves our transparency and efficiency, which in turn raises our competitiveness,” he said, adding that he hopes the system would put Hong Kong on a par with other more technologically advanced ports in the region like those in mainland China.Hong Kong has nine container terminals and more than 1,100 port and maritime firms that provide a wide range of services.