- Language: English
- 175 Pages
- Published: December 2011
- Region: Brazil, China, Russia, United States
Hong Kong Freight Transport Report Q2 2012
- Published: April 2012
- Region: Hong Kong
- 49 Pages
- Business Monitor International
Business Monitor International's Hong Kong Freight Transport Report provides industry professionals and strategists, corporate analysts, freight transportation associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hong Kong's freight transportation industry.
While Hong Kong's port and airport cater for its domestic trade needs, the country's freight transport
sector has developed a global role, with both the air freight and container shipping sectors functioning as
transhipment hubs in the global supply chain.
While gaining Hong Kong a place at the global logistics table, this role also leaves the country's freight
transport sector exposed during periods of slowing global demand. Its freight transport sector will, in our
view, be affected by the projected slowdown in China's economic growth, the plateauing growth outlook
emerging from the US and the recession hit eurozone.
BMI also highlights that there is a medium- to long-term threat to Hong Kong's freight role, as more
direct connections are made with mainland ports and airports. While we note that this is indeed a threat to
Hong Kong in terms of throughput growth, we note that its expertise and highly developed logistics
infrastructure will ensure that the country still has a transhipment role to play. In a bid to remain a step
ahead of the industry expansion, projects are planned at both the port and airport, which will ensure they
keep up with the new trends in the aviation and maritime sector.
Headline Industry Data
-2012 air freight tonnage is expected to grow by 1.54%.
-2012 rail freight is forecast to decrease by 1.5%.
-2012 Port of Hong Kong tonnage throughput is forecast to grow by 2.36%.
-2012 road freight is forecast to grow by 4.3%.
-2012 inland waterway freight is forecast to grow by 2.4%.
-2012 total real trade growth is forecast at 3.6%.
Key Industry Trends
Declining Demand In 2012
The Port of Hong Kong and Hong Kong International Airport (HKIA) have started 2012 badly, with
throughput levels at both declining in January. While the early Chinese New Year has indeed been a
factor in the declines, BMI believes that the macroeconomic climate will lead to further decreases in
throughput in 2012.
Investing To Retain Hub Status
Despite this disappointing short-term outlook, investment continues to be made at the country's port and
airport, a wise strategy in BMI's view if Hong Kong is to retain its position in the global supply chain.
Flag carrier Cathay Pacific is developing a new cargo terminal at HKIA which will boost freight
capacity at the facility and is due online in 2013. Meanwhile, dredging work at the port is underway that
will ensure it can keep up with the demand for deeper harbours as vessels get bigger.
Risks To Outlook
The major short-term risk to our outlook is the threat of a deeper recession in the eurozone than currently
predicted, a stymieing in the US recovery and a hard landing in China. Each of these scenarios would
negatively affect Hong Kong's freight transport volumes.
In the medium term, a move away from transshipment, although in BMI's opinion unlikely, would also
have a negative impact on Hong Kong's freight transport sector. While we note that Chinese mainland
ports and airports are becoming better connected, with direct flights and container services, we believe
Hong Kong still has a transhipment role to play. With Cathay Pacific developing a new cargo hub at the
country's airport and the Port of Hong Kong added as a port of call on Maersk Line's planned route for
its new fleet of 18,000 twenty-foot equivalent unit (TEU) mega vessels, the country's role in the global
supply chain appears to have the support of the major operators in the sector. SHOW LESS READ MORE >
Hong Kong Freight Transport Industry SWOT
Hong Kong Political SWOT
Hong Kong Economic SWOT
Hong Kong Business Environment SWOT
Industry Trends And Developments
Table: Air Freight, 2008-2016
Table: Maritime Freight - Port Of Hong Kong, 2008-2016 ('000 tonnes)
Inland Waterway Freight
Table: Inland Waterway Freight, 2008-2016
Table: Road Freight, 2008-2016
Table: Rail Freight, 2008-2016
Table: Trade Overview, 2008-2016
Table: Key Trade Indicators, 2008-2016 (US$mn and % change y-o-y)
Table: Hong Kong's Main Import Partners, 2002-2009 (US$mn)
Table: Hong Kong's Main Export Partners, 2002-2009 (US$mn)
Global Oil Products Price Outlook
Table: Hong Kong - Economic Activity, 2011-2016
Cathay Pacific Cargo
Orient Overseas Container Line (OOCL)
Pacific Basin Shipping
Sinotrans Shipping Limited
Snapshot: Hong Kong Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Wages, 2005-2012
How We Generate Our Industry Forecasts
- Cathay Pacific Cargo
- Orient Overseas Container Line (OOCL)
- TS Lines
- Pacific Basin Shipping
- Sinotrans Shipping Limited