City was dominant global player as the world’s busiest port for more than a decade until 2004, but sank to No 7 last year
The city was a dominant global player as the world’s busiest port for more than a decade until 2004, but sank to No 7 last year from No 5 after Shanghai, Singapore, Ningbo, Shenzhen, Guangzhou and South Korea’s Busan in terms of throughput, according to London-based Drewry Shipping Consultants.
From its glory days in the 1990s to losing its crown to Singapore in 2004, which was in turn dethroned by Shanghai in 2010, Hong Kong has seen its competitiveness eroded and its transshipments to mainland China diminished.
The initial impact of the trade war is also aggravating Hong Kong’s woes, with more uncertainties and risks ahead.
“For many years, through to the 1990s, Hong Kong was really the only effective port for serving southern China, as mainland Chinese ports were underdeveloped,” Drewry senior analyst Neil Davidson said.
“Since then, of course, mainland Chinese ports like Shenzhen and Guangzhou have seen huge expansion and investment in modern facilities, and have become much more effective competitors to Hong Kong.”
Last year, Hong Kong handled 5.
