Shenzhen Overtakes Hong Kong as Third Busiest Container Port

January 17, 2014 Leave a comment

Shenzhen Overtakes Hong Kong as Third Busiest Container Port

China’s Shenzhen surpassed Hong Kong to become the world’s third-busiest container port for the first time last year, as a strike diverted ships away from the former British colony. Terminals in Shenzhen, in Guangdong province, handled 23.3 million twenty-foot equivalent containers last year, outpacing Hong Kong’s 22.3 million in the same period, data from the Transport Commission of Shenzhen Municipality and Hong Kong Port Development Council show. Port workers at billionaire Li Ka-shing’s Hongkong International Terminals Ltd. went on a 40-day strike in late March last year, demanding higher wages. Evergreen Marine Corp. Taiwan Ltd. and Japan’s Mitsui OSK Lines Ltd. were among shipping lines that diverted vessels to other ports. Shanghai and Singapore remain the world’s two biggest container ports.

To contact the reporter on this story: Rachel Butt in Hong Kong at rbutt4@bloomberg.net

Filed under Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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