CHAPTER 17
PORT DEVELOPMENT
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HONG KONG, the world's busiest container port for six consecutive years, handled about 14.6 million twenty-foot equivalent units (TEUs) of containers in 1997. This represents an increase of some 8.2 per cent over 1996.
Handling this container cargo and many other cargoes which come and go by means other than containers added significantly to Hong Kong's economy. Studies by the government's Census and Statistics Department and Planning Department have indicated that port-related industrial and commercial enterprises contribute some 20 per cent towards Hong Kong's GDP and account for nearly 22 per cent of its workforce. Matching supply of port facilities with demand will, hence, ensure economic growth and optimise employment opportunities for the community. Growth forecasts are, therefore, important. A major review of the Port Cargo Forecasts is carried out every two years to ensure that these forecasts, which span up to 20 years ahead, are as accurate and up-to-date as possible.
The latest Port Cargo Forecasts predicted that by 2016 there would be a demand for Hong Kong to handle 33 million TEUS a year. This is equivalent to handling 63 TEUS every minute of every hour of
hour of every day.
To cope with this demand Hong Kong is planning a completely new container port on Lantau Island with twice the capacity of the present port at Kwai Chung. The timing for building the new terminals on Lantau will be determined after the updating of the Port Cargo Forecasts in early 1998.
Building this new port, on a series of artificial islands stretching south-east from north Lantau, will be one of the world's biggest civil engineering projects.
The new port is vital, not only for Hong Kong, but for southern China, one of the fastest industrialising areas in the world. More than 64 per cent of cargo passing through Hong Kong is entrepôt trade with the mainland of China.
Despite the upgrading of mainland China port facilities, Hong Kong is likely to remain the hub port for the region well into the next century.
As has been the case with the existing container port, all the new terminals will be built and operated by private enterprise. Hong Kong is the only major port in the world not run by a port authority. This system has worked well to make Hong Kong not only the busiest, but also one of the most efficient ports in the world.
Port Development Board
Hong Kong was founded as a port for the China trade just over 150 years ago. Since then it has flourished as a port and a centre of demand-led, free market