Boston, MA -- (SBWire) -- 02/06/2013 --The port of Hong Kong holds the top position in Hong Kong's maritime sector in terms of both total tonnage and container throughput. We believe it will return to growth in 2013, following its strong recovery over 2010 and 2011 and a forecast slowdown in 2012.
Over the medium term, BMI projects further moderate growth at the port of Hong Kong. It has managed to weather the competition from the development of Shenzhen as China's second largest container port. Despite the close proximity of the two facilities, Hong Kong has still managed to retain its lead and is forecast to continue to do so in the medium term.
We also highlight that the port has long-term expansion plans in place to ensure it remains ahead of the curve.
Headline Industry Data
- 2013 port of Hong Kong tonnage throughput forecast to grow 1.2%; over the medium term, we project a 10% increase.
- 2013 port of Hong Kong container throughput forecast to grow 1.9%; over the medium term, we project a 10% increase.
- 2013 total trade growth forecast at 3.85%.
View Full Report Details and Table of Contents
Key Industry Trends
Emissions Cutting Initiative Gets Underway
The port of Hong Kong launched its emissions reduction programme at the end of September 2012. The initiative to reduce emissions and persuade ocean carriers to use cleaner fuel while in berth at the port has been developed to tackle health problems related to emissions.
Kai Tak Airport Maritime Role Taking Off
Kai Tak Airport is set to leave behind its aviation connection and develop its maritime credentials. The former international airport for Hong Kong up until 1998 was famous for its runway that juts out into the sea is now set to be developed as a barge loading dock.
Joining Forces With Shenzhen
One-time rivals Hong Kong and Shenzhen are set to pool their expertise to develop an international shipping centre in Qianhai.
Risks to Outlook
The major short-term risk to our outlook for Hong Kong is presented by a potential deepening of the slowdown in demand, if the mainland economy experience a sharper-than-expected slowdown, or the sovereign crisis in Europe takes a turn for the worse, leading to a decline in throughput at the nation's port.
The movement of industries away from the Pearl River Delta region inland - on the back of rising production costs and labour shortages in the area - is likely to negatively affect the Port of Hong Kong in the short to medium term. BMI believes that the port's years of expertise and highly developed port operations will mean that it retains its role in the global shipping sector. The facility must not, however, rest on its laurels and continue to invest and innovate to ensure it remains ahead of the competition.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Australia Shipping Report Q1 2013
- Vietnam Shipping Report Q1 2013
- Chile Shipping Report Q1 2013
- Oman Shipping Report Q1 2013
- Philippines Shipping Report Q1 2013
- China Shipping Report Q1 2013
- Poland Shipping Report Q1 2013
- Nigeria Shipping Report Q1 2013
- Pakistan Shipping Report Q1 2013
- Iran Shipping Report Q1 2013
Hong Kong Shipping Report Q1 2013 - New Market Research Report
Recently published research from Business Monitor International, "Hong Kong Shipping Report Q1 2013", is now available at Fast Market Research