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HK container growth slides backwards

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Container throughput at Hong Kong's Kwai Chung container port is expected to see negative growth this year - the first time in two decades - due to the weak United States economy slowing Chinese exports.

The last time Hong Kong recorded negative growth was in 1978, when container volumes fell to 1.22 million teu (20 ft equivalent unit) from 1.26 million teu the year before.

'Hong Kong port will probably record a total negative growth this year while Shenzhen port will still continue to grow strongly,' said Hutchison Port Holdings managing director John Meredith.

He expected this weakness in Hong Kong to continue until the US economy recovered.

But the good news is that Hong Kong, which handled 18.1 million teu last year, will this year retain its role as the world's premier container port.

Singapore, which last year handled 17.08 million teu, stays in second place.

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