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Rise in Hong Kong port throughput in February

The Hong Kong port’s throughput for the first two months of 2008 increased by 4.1% in January to 2.07mn TEU, and by 3.5% in February, to 1.64mn TEU. Meanwhile, across the boundary in Shenzhen, the ports there handled 1.85mn TEU in January (up 12.3%) and 1.38mn TEU in February (-6.5%).

Hong Kong’s exports to the US have been declining, registering -0.8% less in 2007. The US and the EU take 14% each of Hong Kong’s total exports, while the Mainland takes 46%. The West Coast ports in the US is where most Far East cargo is handled, and the latest figures, according to Transport Intelligence (www.transportintelligence.com), show imports into the US are declining while exports are now nearly 50% of import volumes. These trends are a reflection of the decline in US consumer demand while exports are booming on the back of a weak dollar. The port of Los Angeles saw a 10% drop in loaded inbound containers to 318,000 TEU in February, while outbound soared by nearly 30% to 154,000 TEU. At the port of Long Beach,? in February, there was an increase of 7.6% to 263,000 TEU loaded inbound containers, while outbound, the figure was up 36% to 147,000 TEU.