ShippingWatch

Hong Kong losing ground in Asian port race

Once the world's largest container port, Hong Kong now faces another dive once the announced container alliance between Maersk Line, MSC, and CMA CGM starts operating.

The Port of Hong Kong, which back in 2000 - 2004 held the title as the world's busiest container port, lost 3.3 percent of its revenue in 2013. The biggest decline among the world's 20 largest ports, according to a survey performed by Alphaliner.

Hong Kong is currently ranked 4th, after Shanghai, Singapore, and Shenzhen on the Top 20 container ports in the world, and the announced P3 alliance featuring Maersk Line, MSC, and CMA CGM will make the situation significantly worse for Hong Kong, as the alliance plans to cut its number of calls in half, from six to three, on the carriers' westbound strings to Europe.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs