Port of Hong Kong’s box volume sinks 12.1% in Q1

The port handled 55.6 million metric tons and 4.32 million TEUs during the first quarter of 2016, a year-over-year drop of 18.7 percent and 12.1 percent, respectively.    The Port of Hong Kong handled 4.32 million TEUs in the first quarter of 2016, a 12.1 percent decline from the corresponding period in 2015, according to Hong Kong’s Census and Statistics Department.
   A total of 68 fully cellular container loops that also operate outside of Asia frequent the port, in addition to dozens of fully cellular container services strictly dedicated to the intra-Asia trade, according to ocean carrier schedule and capacity database BlueWater Reporting’s Port Dashboard tool.
   In terms of overall port throughput, Hong Kong handled 55.6 million metric tons during the quarter, an 18.7 percent decline from the first quarter of 2015. Inward port cargo volumes reached 32.3 million metric tons, while outward port cargo volumes totaled 23.3 million metric tons, a year-over-year drop of 22.9 percent and 12.1 percent, respectively.
   While inward port cargo tonnage from Indonesia rose 33.5 percent from the first quarter of 2015, incoming tonnage from Mainland China was down -33.2 percent, followed by declines from Taiwan (-31.7 percent) the U.S. (-28.6 percent), Singapore (-20.7 percent), Thailand (-20.1 percent), Japan (-20.1 percent) and Korea (-13.8 percent).
   Meanwhile, outward port cargo tonnage for the quarter surged 58.2 percent year-over-year to Macau.
   On the flip side, outgoing tonnage to Vietnam was down -29.7 percent, followed by declines to Malaysia (-27.2 percent), the U.S. (-18.3 percent), Thailand (-15.6 percent) and Japan (-11.3 percent).
   During the quarter, Hong Kong saw inward port tonnage increase for bricks, ceramic tile and refractory construction materials.
   However, inward port tonnage decreased for artificial resins and plastic materials; machinery; iron and steel; stone, sand and gravel; metalliferous ores and metal scrap; and pulp and waste paper.
   In terms of outward port tonnage, Hong Kong saw decreases in machinery, artificial resins and plastics materials, and iron and steel.