In the face of fluctuating global trade dynamics, Hong Kong's port has demonstrated remarkable resilience. Despite a slight decline in inward cargo, the overall port cargo throughput witnessed a modest 1% increase to 176.7 million tonnes in 2024. This growth was driven by a significant 3.9% rise in outward cargo, while inward cargo saw a marginal 0.5% decrease. The fourth quarter highlighted this trend, with total cargo throughput rising 1.1%. Notably, river cargo volumes surged by 10.9%, contrasting with a decline in seaborne cargo. Additionally, container handling experienced a 5% drop, reflecting broader economic challenges.

Details of Hong Kong’s Port Performance in 2024

In the vibrant and bustling year of 2024, Hong Kong's port activities painted a complex yet resilient picture. Total cargo throughput reached 176.7 million tonnes, marking a 1% increase compared to the previous year. While inward cargo decreased slightly by 0.5% to 111.1 million tonnes, outward cargo surged by 3.9% to 65.6 million tonnes. This dynamic shift was particularly evident in the fourth quarter, where total cargo throughput rose by 1.1% to 44.3 million tonnes, despite a 3.5% dip in inward cargo and a robust 9.6% increase in outward cargo.

The breakdown of cargo types revealed interesting trends. Seaborne cargo fell by 4.1% to 110.5 million tonnes, while river cargo experienced a substantial 10.9% increase to 66.2 million tonnes. International trade patterns also shifted significantly. Inward cargo from Korea and Singapore saw double-digit increases of 29.4% and 21.4%, respectively, whereas cargo from the US, Indonesia, Malaysia, Vietnam, Thailand, and Japan declined sharply. For outward cargo, destinations like Vietnam, Mainland China, and Taiwan recorded notable gains, while the Philippines, Japan, Malaysia, Thailand, and the US faced significant declines.

Container handling at the port totaled 13.69 million twenty-foot equivalent units (TEUs), down 5% from the previous year. Laden containers decreased by 3.4%, and empty containers by 10.6%. Ocean vessel arrivals dropped by 2.5% to 18,395, with total capacity falling by 3.2%. Conversely, river vessel arrivals increased by 12.1% to 82,194, accompanied by a 13.5% rise in capacity.

From a broader perspective, these figures underscore the adaptability and resilience of Hong Kong's port in navigating challenging global trade conditions. The rise in river cargo and specific regional trade partnerships indicate a strategic shift towards more diversified and resilient supply chains.

As a journalist observing these developments, it is clear that Hong Kong's port continues to play a pivotal role in global logistics. The data suggests a need for continuous adaptation and innovation to maintain competitiveness in an increasingly complex trade environment. The ability to pivot towards emerging markets and optimize existing relationships will be crucial for sustaining growth in the future.