Hong Kong Drops Out of World's Top 10 Busiest Ports for First Time

Hong Kong has fallen out of the world's top 10 busiest container ports for the first time in history, according to the latest report from Alphaliner. The city, which was the world's top container port two decades ago, slipped to 11th place globally in 2023 after its container throughput contracted by 14% to 14.34 million TEUs (twenty-foot equivalent units) in 2022. This marks the biggest decline among the top 15 busiest container ports worldwide.

Hong Kong has been overtaken by Dubai's Jebel Ali port, while Shanghai and Singapore retained the top two spots in the ranking. The decline in Hong Kong's port activity is attributed to intensifying competition in the Asia Pacific region, supply chain disruptions from COVID-19 lockdowns, and geopolitical tensions. These factors have redirected cargo volumes away from Hong Kong to other ports in the region.

Why this matters: Hong Kong's drop in the global port rankings reflects the city's declining role in international trade and logistics. As a major hub for global commerce, the shift in cargo volumes away from Hong Kong could have significant economic implications for the city and the broader Asia Pacific region.

Despite the setback, Hong Kong remains an important global logistics hub, with its airport continuing to be the busiest cargo airport in the world for the 13th time since 2010, except for 2020 when it lost the top spot due to the pandemic. The city's government and officials have emphasized the need for Hong Kong to remain vigilant against internal and external threats to its national security while also focusing on economic and social achievements.

Experts predict that Hong Kong's role could be further weakened in the short term due to ongoing challenges such as global supply chain disruptions and geopolitical tensions. The rise of mainland Chinese ports like Shanghai, Ningbo, and Guangzhou has also contributed to Hong Kong's declining ranking in the world's busiest ports.

Key Takeaways

• Hong Kong fell out of the world's top 10 busiest container ports for the first time.
• Hong Kong's container throughput contracted by 14% to 14.34 million TEUs in 2022, the biggest decline globally.
• Hong Kong was overtaken by Dubai's Jebel Ali port, while Shanghai and Singapore retained the top spots.
• Factors like competition, COVID-19 lockdowns, and geopolitical tensions have redirected cargo away from Hong Kong.
• Hong Kong's declining port ranking reflects its diminishing role in international trade and logistics.