- For the first time in the history of container shipping, Hong Kong has dropped out of the world’s top 10 busiest container ports.
- According to new data from Alphaliner, the port experienced a significant decline in traffic, with volumes falling 14.1% to 14.3 million TEUs last year.
- This downturn marks the continuation of a long-term decline for Hong Kong, which once vied for the top spot among global container ports.
Declining Traffic in Hong Kong
Hong Kong’s container port saw its traffic drop 14.1% last year, reaching 14.3 million TEUs. This decline further establishes the long-term downward trend for the port, which used to compete with Singapore and Shanghai for the title of the world’s busiest port. The decline also resulted in Hong Kong falling out of the top 10, with Dubai overtaking it for the first time since 2018.
U.S. Ports Also Suffered Declines
Several major U.S. ports, including New York & New Jersey, Los Angeles, and Long Beach, experienced a significant decline in volumes. The largest drop was seen at the New York & New Jersey port, where throughput declined by 17.7% to 7.8 million TEUs. Other ports such as Savannah also saw declines, with a drop of 16% in volume last year.
Notable Growth in Other Ports
While some ports saw declines, others experienced notable growth. China’s Qinzhou grew by 13.1% to reach 6.1 million TEUs, while Vietnam’s Cai Mep ranked 30th with a throughput of 5.6 million TEUs. Additionally, India’s Mundra and Morocco’s Tanger Med saw significant growth, with Tanger Med climbing three places after achieving 13.4% growth to reach 8.6 million TEUs.
Shanghai Retains Top Spot
Despite the shifting rankings, the top three busiest container ports remained unchanged. Shanghai continued to hold the top spot, followed by Singapore and Ningbo. With a throughput of a little over 49.1 million TEUs, Shanghai is poised to surpass the 50 million TEU milestone in 2024 with just a 2% growth rate this year.
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Source: Loadstar
