Shanghai, Hong Kong ports lag global peers on maritime services, CY Leung says

Quick Summary:

Drawbacks are obvious’, and both cities must upgrade to wield more influence’ in global shipping, says Hong Kong’s former chief executive.

Hong Kong, which was the world’s top container port for most of the period from 1987 to 2004, was in 11th place last year, with handling volume dropping 14.1 per cent to 14.3 million TEUs, according to data provider Alphaliner.“The drawbacks are obvious,” said Leung, now a vice-chairman of China’s top political advisory body.“There are some untapped areas for both Hong Kong and Shanghai as the two cities strive to wield more influence in the global shipping industry.

Container throughput, supported by high commodity trading volume, is not the sole gauge of an international shipping centre, he said, adding that marine insurance, maritime arbitration and shipbroking are also important elements that characterise successful major seaports.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChinaSingapore

Topics: Volume Offer Hong Ports Kong International Shanghai Shipping Container Leung Services

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 20:15:07 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 4 lines

Sentence Length: 65 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23038743

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