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Hong Kong February volumes down 16% to 1.2m teu

Hong Kong February volumes down 16% to 1.2m teu
The slide at the port of Hong Kong continued in February, worsening with a 16% overall throughput drop to 1.2m teu from 1.4m teu in previous corresponding period and accelerating from the 9.6% drop seen in the first month of the year.

Throughput at the main Kwai Tsing terminals was especially hard hit during the holiday-shortened and traditionally slow month, falling 17.6% to just 973,000 teu, the first time volume has dropped below 1m teu in more than two years. These key terminals moved some 1.2m teu in February 2014.

Throughput at the non-Kwai Tsing terminals also fell but by a less dramatic 8.9% to 240,000 teu, although volumes at these terminals are already at a relatively low level in the first place.

Major port operator Cosco Pacific which runs two terminals in Hong Kong port, earlier this week reported a 3.5% overall drop in throughput across all its terminals, with drops at its Cosco-HIT and Asia Container terminals at 33% and 31% respectively.