MESSAGE FROM GROUP MANAGING DIRECTOR
The maritime and port industry has gone through a roller coaster journey in recent years. After an above-average growth for global container trade in 2021, we have seen a softening of the demand since mid-2022 due to significant contraction of consumption in the US and Europe, and stringent measures against the pandemic in Mainland China. The relaxation of measures in Mainland China in the last few weeks of 2022 will definitely have a positive effect on cargo flow but the extent is yet to be seen. It is expected that 2023 will continue to be full of challenges with high degree of uncertainty associated with volatile political and economic outlook.
In Hong Kong, the Hong Kong Seaport Alliance continues its efforts to enhance Hong Kong’s position as a regional transshipment hub and the gateway to China especially for fresh produce and fruits. The launch of Electronic Booking Confirmation Note (eBCN) in September 2022 and a full implementation planned for March 2023 would complete the digitisation of both import and export processes enhancing further efficiency at the port.
“In Hong Kong, the Hong Kong Seaport Alliance continues its efforts to enhance Hong Kong’s position as a regional transshipment hub and the gateway to China especially for fresh produce and fruits.”
We will continue to actively participate in the Smart Port Initiative led by the HKSAR Government with a view to help steer the development of a Port Community System together with other stakeholders.
In DaChan Bay, we have successfully captured a significant growth in throughput and enhanced our international customer base and service calls. To cater for the growth momentum, we have been ordering additional equipment to increase the handling capability of DaChan Bay. To capture the surging demand for imported fruits in Mainland China, we have also increased the number of reefer plugs and have set up a dedicated team for handling fruit imports. We are very pleased that some carriers have named vessels after DaChan Bay in 2022 reflecting the importance shipping lines place on the terminal.
In terms of sustainability, we have been progressing well towards our goals under our Sustainability Strategy. To achieve our 2030 decarbonisation goal to eliminate direct GHG emissions from our operations, we have been exploring various technologies to determine our roadmap. We have shortlisted a number of green energy technologies and will continue our works in order to come up with a concrete plan.
We would not have been able to weather the storm and capture opportunities without our dedicated teams in Hong Kong and DaChan Bay. I would like to extend my heartfelt thanks to every member of the big Modern Terminals family.
Last but not least, our gratitude also goes to our customers and business partners who have contributed to the success of our Company in the last five decades. We look forward to our long-term partnership with our customers for future success in 2023 and beyond!
Horace Lo
Group Managing Director