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Growth of Hong Kong freight transport


Business Monitor International forecasts Hong Kong freight transport will grow by an annual average of 4.3% over the next five years to 2011, to be driven by sea and air, the two dominant sectors. According to BMI's Hong Kong Freight Transport Report Q2 2007, the freight industry competitive environment in Hong Kong is very healthy, with no restrictions on foreign entry. Freight transport, largely dominated by the private sector, has a large number of market players of which many are major international corporations.

BMI rates the Hong Kong regulatory environment as one of the best in the Asia Pacific region with local authorities supporting a strong, open and market friendly economy. It cites the port of Hong Kong and the international airport as well regulated and operated, with particular attention to safety and security standards. It also gives high credit to Hong Kong's continued investment in transport infrastructure, particularly in the case of shipping and airfreight.

The Hong Kong port handled 17.704mn TEUs of containerised cargo in the first nine months of the year, at a 2% increase over the same period last year. In September, the Hong Kong port, including container terminals 1-9, handled 2.05mn TEUs, at a rise of 3.6%.

Across the boundary, the Shenzhen ports handled 2.06mn TEUs in September, some 15.6% more than the same month last year. From January to September 2007, the Shenzhen ports handled an accumulated container traffic of 15.4mn TEUs, at a growth rate of 14.2%.