Hong Kong is one of the Global port city. What are its operational challenges?
Chinese larger port hubs such as Shanghai and Guangzhou are taking a more holistic approach to the future development of their ports which comprises of more focusing on hinterland zones, local industry, connectivity and technical innovation. Economic restructuring and growth of consumer-oriented services as percentage of GDP along with structural changes in shipping sector are indeed regarded as key factor driving change in China’s port sector.
Pearl River Delta (PRD) port of Guangzhou was the stand-out performer in terms of container volumes in 2016 and presents a strong example of the measures being taken to flourish in the new era. Together with sea and landside infrastructure investments comprising of $415 million project to widen the stretch of water linking its container terminals at Nansha to the main east-west shipping lanes the port authority is looking to take advantage of a changing PRD cargo base and targeting the expansion of its foreign trade-related throughput. Furthermore Guangzhou Port Group had been able to generate funds from public which eventually would be used to accelerate the development and optimization of port infrastructure and further increase competitiveness.
Guangzhou anticipates to take business from Hong Kong and Shenzhen as the cargo production base in the PRD slowly shifts westwards and closer to its facilities. Hong Kong looks particularly susceptible as it exhibits a major challenge due to its location which is farthest of the three major southern Chinese ports from PRD cargo sources and resulting additional costs involved to use it.
After more than two years of volume decline Hong Kong port has now slowly started to stabilize. However with changing environment and new regulations introduced by Chinese government as in worst-case scenario could cause Hong Kong to lose up to 2.5 million 20-foot-equivalent units approximately around 14 percent of its total annual throughput.
Cabotage restrictions have been gradually relaxed in Shanghai free trade zone where foreign-flagged but Chinese-owned ships can now engage in domestic shipping. Guangzhou, Ningbo, and Qingdao are lobbying hard for a relaxation of their own cabotage rules on foreign vessels. Furthermore mainland China’s cabotage relaxation is eventually deteriorating Hong Kong’s status of being a key transshipment hub in the region and thus creating uncertainty for the local jobs market and economy.
Hong Kong is one of the Global port city. What are its operational challenges?
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