Major terminal operators’ move to boost Hong Kong trade
Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, and Asia Container Terminals Limited have announced the formation of the Hong Kong Seaport Alliance (“The Seaport Alliance”).
The alliance is a joint operating agreement designed to deliver more efficient service offerings to carriers that call Hong Kong, while enhancing the overall competitiveness of the Port of Hong Kong across the region.
The Seaport Alliance will offer a total of 23 berths and the planning for which is conducted by an Operations Coordination Team using a common terminal operating system.
Said Gerry Yim, Managing Director of Hongkong International Terminals Limited: “The formation of the Seaport Alliance will further enhance efficiencies, increase utilisation and improve our overall service offering to customers
“The Seaport Alliance will ensure that the Port of Hong Kong remains a valuable contributor to our economy, both as an employer and as a facilitator of global trade.”
This collaboration is in direct response to a rapidly changing business environment, including the formation of new carrier alliances, carrier industry consolidation, and the dramatic increase in vessel size over the last few years.
Said Peter Levesque, Group Managing Director of Modern Terminals Limited: “For almost two centuries Hong Kong has played a vital role in the facilitation of global trade.
“The Seaport Alliance, and the application of new technologies, will enable Hong Kong to thrive as an international shipping hub for decades to come.”
A vibrant and competitive port is critical to the economy of Hong Kong.
The port and logistics sector accounts for 3.2% of the GDP of Hong Kong, and provides more than 174,000 industry related jobs.
“The maritime and port industry is a major part of trading and logistics which is one of the four economic pillars of Hong Kong. We will work together to enhance the position of Hong Kong as an international shipping centre,” said Lawrence Shum, Managing Director of COSCO-HIT Terminals (Hong Kong) Limited.
“By achieving additional efficiencies through optimised use of terminal assets, the Port of Hong Kong will continue to be a reliable transshipment hub in the region and a key gateway to China,” said Hanliang Zhu, Managing Director of Asia Container Terminals Limited.
The four companies plan to commence the joint operations of the Seaport Alliance progressively within 2019.