Maritime Sector in Hong Kong - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4622788
  • Report
  • Region: Hong Kong
  • 114 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2018
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FEATURED COMPANIES

  • A.P. Moller–Maersk Group
  • CMA CGM
  • COSCO Shipping
  • DP World
  • Jinhui Holdings Co. Ltd
  • Kerry Logistics
  • MORE
Hong Kong is one of the major international trading hubs with a significant amount of logistics-related transport. The Port of Hong Kong was marked as the busiest trading region with its strategic location and well-established port infrastructure. Owing to the increasing number of direct shipping routes and the development of the Chinese mainland port infrastructure, the maritime industry in Hong Kong has experienced a decreased trend during the period 2012-2016 in terms of container throughput. Hong Kong has been serving as a leading trans-shipment hub for the Chinese mainland and provinces from major regions across the world since many years. But the significant developments and expansions in the Chinese maritime sector and the growth of the Chinese alternative modal transport with Western areas have restrained the growth of the Hong Kong industry. But the shipping industry witnessed an increased trend in the past two years. For instance, the container throughput of the port of Hong Kong stood at 20.77 TEUs in 2017, which implies a growth of 4.8% from 2016. The growth is attributed to the recent developments in the container terminals and the rising demand for the inland river transport. According to the data published by Baltic Exchange and Xinhua, Hong Kong overtook London for the first time in four years, to occupy the 2nd spot in the global shipping center index, in 2018.

Government Support in Propelling Maritime Sector
The government of Hong Kong has been supporting the maritime sector with its initiatives and incentives. The country mostly involves in international shipments and operations where shipping operators are more susceptible to double taxation. Hence, the Hong Kong Special Administrative Region Government (HKSARG) proposed objectives and made arrangements with its trading partners to avoid double taxation on income derived from international shipping operation. This move improves the international competitiveness and is expected to help the country to position itself as an international maritime sector. Furthermore, Hong Kong has implemented shipping incentives tax regime to facilitate shipping activities, which include the exemption from the profits tax irrespective of the nationality of the ships concerned.

Challenges for Shipping Industry
The traditional role of Hong Kong as a bridge between the Chinese mainland and the rest of the world has been diminishing in the recent years. Hence, the SAR government (Government of Hong Kong) had to take necessary actions to reverse the trend. Additionally, the level of automation in China’s major ports is higher than Hong Kong. Ship registration has been the major advantage of the shipping industry of Hong Kong. Since 1997, the number of registered ships increased from 400 to more than 2,500. With the rapid growth, the treasury collected a whopping amount of registration fees. But the authorities didn’t have necessary financial support since the money has not been directly allocated to the marine department. This scenario is expected to show adverse effect on the quality of global services for the registered ships. The government has to allocate the revenue back into the shipping sector and relevant authorities to improve facilities and increase the workforce.

Maritime Sector in Hong Kong Key developments
Feb 2018: Hong Kong International Terminals Limited (HIT) unveiled remote-controlled, rubber tyred gantry cranes and the automated container stacking systems for Container Terminal 9 North in Tsing Yi. The technology upgrade move is expected to reduce carbon emissions and create cleaner environments for the operators.

Maritime Sector in Hong Kong Major Players
Orient Overseas Container Line Limited (OOCL)
COSCO Shipping
CK Hutchison Holdings Limited
China Merchants Port Holdings Company
MSC
A.P. Moller–Maersk Group
CMA CGM
DP World
Kerry Logistics
Maritime Sector in Hong Kong Report Summary
Metrics

Details

Industry

Maritime Sector in Hong Kong

Study Period

(2014-2023)

Market Size in 2017

Provided in the full report

Market Size in 2023

158.72

Growth Rate

Provided in the full report

Key Developments

Feb 2018: Hong Kong International Terminals Limited (HIT) unveiled remote-controlled, rubber tyred gantry cranes for Container Terminal 9 North in Tsing Yi

Companies Covered

Orient Overseas Container Line Limited (OOCL), COSCO Shipping, CK Hutchison Holdings Limited and others

Report Offerings

The report on Maritime Sector in Hong Kong offers latest trends, growth prospects, industry competitiveness, major players, segment market share and forecast to 2023.

Reasons to Purchase Maritime Sector in Hong Kong Report
The current and future analysis of the sector in the developed and emerging markets
Various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis of the segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
The latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Report Customization and Benefits
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • A.P. Moller–Maersk Group
  • CMA CGM
  • COSCO Shipping
  • DP World
  • Jinhui Holdings Co. Ltd
  • Kerry Logistics
  • MORE
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Executive Summary

2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases

3. MARITIME SECTOR IN HONG KONG INSIGHTS
3.1 Current Market Scenario (2017-2018)
3.2 Insights on Trans-shipment Trade
3.3 Insights on Containerized and Non-containerized Shipments
3.4 Government Regulations and Initiatives
3.5 Technological Trends and Automation in Ports
3.6 Insights on Freight Rates
3.7 Insights on Freight Forwarding Industry in Hong Kong

4. MARITIME SECTOR IN HONG KONG DYNAMICS (DRIVERS, RESTRAINTS, AND OPPORTUNITIES)
4.1 Adoption of IOT Technologies and Automation Solutions in the Port Industry
4.2 Growth in the Regional Inland Water Trade
4.3 Increasing Number of Direct Shipping Routes and Development of the Chinese Mainland Port Infrastructure
*List not Exhaustive

5. MARITIME SECTOR IN HONG KONG SEGMENTATION AND ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)
5.1 By Service
5.1.1 Cross-Border Services
5.1.1.1 Freight Transport Services
5.1.1.2 Vessel Operations and Leasing Between Hong Kong and the Mainland China
5.1.1.3 Vessel Leasing and Rental Services (Other than Mainland China)
5.1.1.4 Other Services (Services Related to Ship Agents and Managers of Overseas Shipping Companies)
5.1.2 Inland Freight Water Transport
5.1.3 Service Activities Incidental to Water Transport
5.1.3.1 Container Terminal and Marine Cargo Terminal Operations
5.1.3.2 Mid-stream Operations (MSO) and Container Back-up Activities

6. MARITIME SECTOR IN HONG KONG FUTURE

7. COMPETITVE LANDSCAPE
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Concentration Overview
7.3 Strategies Adopted by Major Players

8. Hong Kong Maritime Sector COMPANY PROFILES (OVERVIEW, FINANCIALS**, PRODUCTS AND SERVICES, RECENT DEVELOPMENTS, AND ANALYST VIEW)
8.1 Orient Overseas Container Line Limited (OOCL)
8.2 COSCO Shipping
8.3 CK Hutchison Holdings Limited
8.4 China Merchants Port Holdings Company
8.5 MSC
8.6 A.P. Moller–Maersk Group
8.7 CMA CGM
8.8 DP World
8.9 Pacific Basin Shipping (Hk) Limited
8.10 Ever Harvest Group Holdings Ltd
8.11 Jinhui Holdings Co. Ltd
8.12 Chu Kong Shipping Enterprises (Group) Co. Ltd
8.13 Kerry Logistics
8.14 SEAFRIGO
8.15 Royal Cargo Group
*List not Exhaustive

9. OTHER COMPANIES IN THE REPORT INCLUDE
Sea-Air Logistics, ZIM Integrated Shipping Services Limited, Floata Consolidation Limited, Nepa Shipping, Winland Ocean Shipping Corporation, Ferguson International Freight Forwarders Limited, TIBA Group, Trans-Am Group, OTS Forwarding, JSI Logistics, DSV and Oriental Logistics

10. APPENDIX
10.1 Statistics of Hong Kong Shipping Register, by Ship Type, 2018
10.2 Insights on Top Merchant Fleet by Flag of Registration
10.3 Statistics - Number of Establishments and Persons Engaged in Major Industry Groups of the Maritime Industry
10.4 Historical Data on Shipping Services (Inspection of Vessels, Marine Accidents, and Seafarers)
10.5 Insights on Hong Kong Port Facilties (Container Terminals, River Trade Terminals, Mooring Buoys, Anchorages, Public Cargo Working Areas, Typoon Shelters)
10.6 Statistics on Ocean and River Vessel Arrivals, by Ship Type and Flag, 2017

11. DISCLAIMER
Note: Product cover images may vary from those shown
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  • Orient Overseas Container Line Limited (OOCL)
  • COSCO Shipping
  • CK Hutchison Holdings Limited
  • China Merchants Port Holdings Company
  • MSC
  • A.P. Moller–Maersk Group
  • CMA CGM
  • DP World
  • Pacific Basin Shipping (Hk) Limited
  • Ever Harvest Group Holdings Ltd
  • Jinhui Holdings Co. Ltd
  • Chu Kong Shipping Enterprises (Group) Co. Ltd
  • Kerry Logistics
  • SEAFRIGO
  • Royal Cargo Group
Note: Product cover images may vary from those shown
5 of 5
Note: Product cover images may vary from those shown
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