Expedition and freight forwarding solutions

Container terminal operator Hutchison Port Holdings Trust (HPH Trust) is seeing a deeper structural decline in cargo volumes in Hong Kong, while its mainland China assets continue to grow. The trend highlights the mounting pressure on Hong Kong as regional shipping patterns shift.

Volumes at Kwai Tsing terminals have been falling since 2018, reflecting changes in trade flows and intensifying competition from ports in the Greater Bay Area, especially Shenzhen. A key driver is the growing preference of shipping lines for direct calls at mainland Chinese ports, bypassing Hong Kong as a traditional transshipment hub.

At the same time, Yantian terminal in Shenzhen, which is part of HPH Trust’s portfolio, continues to post steady growth and is expanding further. The first phase of Yantian East Port is expected to come online by 2027 with capacity of 1 million TEU, with a longer-term plan to raise that to 3 million TEU.

HPH Trust is also reviewing “strategic alternatives” for the Hong Kong Seaport Alliance, a move that may point to changes in how terminal operators cooperate in a weaker volume environment. Even so, Kwai Tsing remains profitable at the EBITDA level thanks to cost optimization and operational efficiency improvements.

In broader industry terms, the situation reflects a long-term shift in logistics flows toward mainland Chinese ports, which offer greater scalability and stronger capabilities for handling mega-container ships. Hong Kong still retains its role as a transshipment hub, but its relative importance is gradually declining under the pressure of regional competition and changing carrier preferences.

BIMCO has introduced CO2TIME 2026, the first standard time charter developed specifically for the carriage of liquefied carbon dioxide (LCO₂).

The new form is designed for the fast-growing CCUS sector — carbon capture, utilisation and storage — where maritime logistics is becoming a critical part of the value chain.

From an operational perspective, CO2TIME 2026 adapts the traditional principles of gas shipping contracts to the specific requirements of CO₂ transportation. It addresses issues such as allocation of responsibilities, risk management, and vessel operation, helping reduce uncertainty for shipowners, charterers, and investors. In effect, it creates a more unified legal framework for an emerging market.

Its launch comes at a time when CCUS infrastructure is expanding rapidly, particularly in Europe and Asia, where transport chains are being built between capture sites and storage facilities. In this model, shipping serves as a key link, providing flexibility and scalability for the movement of captured CO₂.

More broadly, the introduction of a standardized contract suggests that the CO₂ shipping market is moving from concept to commercial implementation. It may also lower entry barriers for new participants and support the development of a dedicated fleet.

The Strait of Hormuz — one of the key arteries of global logistics — is partially resuming operations following a period of escalation in the region. As a result of negotiations mediated by Pakistan, the parties agreed to a two-week ceasefire.

Under the agreement, Iran confirmed its readiness to ensure safe passage for vessels through the strait. However, navigation will be conducted in coordination with Iran’s armed forces, and the strait remains under Iranian control. The reopening is conditional and temporary, with its continuation directly dependent on compliance with the ceasefire, leaving the situation still unstable.