2014-04-02 12:13:02 - Hong Kong Freight Transport Report Q1 2014 - a new market research report on companiesandmarkets.com
Following a year in which analysts believe saw mixed growth dynamics in different freight modes, 2014 will signal growth across the whole freight transport sector in line with macroeconomic outlook.
US demand is set to continue recovering in 2014, while the eurozone we believe will only return to the path of recovery. Development in both major economies will have a positive effect on throughput at Hong Kong´s port, which caters as a container shipping hub for Asia, and also the country´s air freight volumes, with Hong Kong boasting the busiest cargo airport globally.
The port of Hong Kong is forecast to return to growth both in tonnage and box throughput in 2014, after they were hindered by a forty day strike at
the port in 2013. Although up until 2012 it was managing to weather the competition from the development of Shenzhen as China´s second largest container port and despite the close proximity of the two facilities was managing to retain its lead, Hong Kong is now estimated to have lost it to Shenzhen, which, BMI believes, also had its container throughput bolstered as a result of the Hong Kong 2013 strike, as some shippers re-routed there to avoid the industrial action. We, however, also highlight that the port of Hong Kong has long-term expansion plans in place to ensure it remains among the world´s top ports.
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