Hong Kong continues to slip, could lose spot among top 5 container ports in 2018

(Dec 27): Hong Kong is poised to lose its ranking as the world’s fifth-busiest container port if cargo-handling trends continue.

Sea freight processed in the city dropped for a second straight month in November, making Hong Kong the only container port among the world’s top five to report weaker traffic, based on statistics compiled by port authorities. South Korea’s Busan, ranked sixth, has narrowed the gap and is set to overtake Hong Kong on an annual basis in 2018, said Rahul Kapoor, an analyst at Bloomberg Intelligence.

As China expanded its manufacturing prowess to become the biggest exporter of everything from fabrics to machinery, the nation also boosted capacity at its ports, making it possible for larger ships to start direct services to major cities such as Shanghai and Shenzhen. Until 2004, Hong Kong was the world’s busiest container port as it served as a conduit for cargo moving in and out of China.

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