Hong Kong Port cargo slumps in 4Q 2018

Figures released by Hong Kong’s Census and Statistics Department this week reveal a steep decline in port cargo for the fourth quarter of 2018.

In the last three months of 2018, total port cargo throughput fell 13% compared with the fourth quarter of 2017 to 65.1m tonnes. Of that figure inward port cargo and outward port cargo decreased by 14,3% and 10.8% compared with the 2017 fourth quarter to 40m tonnes and 25.1m tonnes respectively.

For 2018 as a whole, total port cargo throughput decreased by 8.2% compared with the whole year of 2017 to 258.5m tonnes. Within this total, inward port cargo and outward port cargo decreased by 8.6% and 7.4% compared with the whole year of 2017 to 159.5m tonnes and 99m tonnes respectively.

Within port cargo, seaborne and river cargo decreased by 7.0% and 10.2% in the whole year of 2018 compared with the whole year of 2017 to 164.5 million tonnes and 94.0 million tonnes respectively.

Within inward port cargo, imports and inward transhipment decreased by 8.9% and 8.3% in the whole year of 2018 compared with the whole year of 2017 to 91.4m tonnes and 68.1m tonnes respectively. For outward port cargo, exports and outward transhipment decreased by 11.4% and 5.2% compared with the whole year of 2017 to 33.8m tonnes and 65.3m tonnes respectively.

Comparing the fourth quarter of 2018 with the fourth quarter of 2017, double-digit increases were recorded in the tonnage of inward port cargo loaded in Malaysia (+22.8%) and Taiwan (+19.0%). On the other hand, double-digit decreases were recorded in the tonnage of inward port cargo loaded in Indonesia (-45.6%), the United States of America (-18.1%), Korea (-16.9%), Singapore (-16.6%), Japan (-14.1%) and the mainland of China (-11.6%). For outward port cargo, double-digit increase was recorded in the tonnage of outward port cargo discharged in the Philippines (+20.2%). On the other hand, double-digit decreases were recorded in the tonnage of outward port cargo discharged in Macao (-19.2%), the mainland of China (-15.8%) and Taiwan (-11.7%).

Comparing the whole year of 2018 with the whole year of 2017, double-digit increase was recorded in the tonnage of inward port cargo loaded in Malaysia (+15.2%). On the other hand, double-digit decreases were recorded in the tonnage of inward port cargo loaded in Singapore (-19.1%), Japan (-19.0%), the United States of America (-15.3%), Korea (-14.7%) and Indonesia (-10.2%). For outward port cargo, double-digit increase was recorded in the tonnage of outward port cargo discharged in the Philippines (+13.0%). On the other hand, double-digit decreases were recorded in the tonnage of outward port cargo discharged in Macao (-50.6%), Korea (-15.3%), Thailand (-14.0%), Taiwan (-13.2%) and Malaysia (-10.6%).

 

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