Chinese Port Gains Against Hong Kong
Container terminals in Shenzhen, China, which charge almost a third less for handling cargo than those in neighboring Hong Kong, processed 40% more containers in November as overseas companies bought more China-made products.
Shenzhen, China’s second-busiest port after Shanghai, handled 980,000 standard 20-foot containers last month, said Gan Huojin, an official at Shenzhen’s municipal port bureau. Traffic for the first 11 months of the year also rose 40% to 9.68 million containers.
Hong Kong, the world’s busiest port, is losing business to cheaper facilities in Shenzhen, which is expanding as China’s trade increases.
China’s exports grew by a third in the first 11 months of the year.
Shenzhen is a two-hour drive from Hong Kong.
Operators in Hong Kong generally charge about 20% to 30% higher cargo handling fees than those in Shenzhen.
Shenzhen will handle more than 10 million boxes this year, according to a forecast from the bureau.
Hong Kong handled 19 million 20-foot containers last year, making it the world’s busiest port, ahead of Singapore.