With the Year of the Ox upon us, Hong Kong’s container industry faces the challenge of keeping up with port technology innovations, along with competitors offering lower terminal handling charges. Due to these impediments, the development of the Hong Kong Seaport Alliance (HKSA) seeks to take on 2021 by the horns and adjust to a changing future. The formation of the HKSA is also a result of newly established carrier relationships, business alliances, and the upsurge of container size.
This isn’t without setbacks, for there is the question of how the Hong Kong Shipper’s Council assess and manage competition, and devastating effects of COVID-19 have impacted the Chinese shipping industry with a 7.8-8.9% decrease right before the start of 2020. Sources warn that the US should tread carefully and not on hooves, for the demand of much needed discourse and action for civil liberties could be seen as an attempt to undermine the Chinese government.
Source: Supply Chain Management Review